Barclays plans to price Super Track notes linked to S&P 500 index

By Toni Weeks

San Luis Obispo, Calif., April 23 - Barclays Bank plc plans to price 0% Super Track notes due Oct. 29, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of 13% to 15%. The exact maximum return will be determined on the April 25 initial valuation date.

Investors will share fully in any losses if the index return is negative.

The initial index level will be the lowest index closing level observed on seven scheduled observation dates, subject to a floor of 90% of the closing level on April 25. The observation dates are April 25, May 9, May 23, June 6, June 20, July 3 and July 18.

The notes (Cusip: 06741TTK3) are expected to settle April 30.

Barclays is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.