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Barclays to price leveraged buffered notes tied to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., Aug. 1 - Barclays Bank plc plans to price 0% leveraged buffered notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature 14 to 17 months after pricing.
If the index return is positive, the payout at maturity will be par plus 120% of the index return, subject to a maximum payout of $1,117 to $1,165 per $1,000 principal amount. The exact maximum settlement amount will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% index decline beyond 10%.
The notes (Cusip: 06741TA49) are expected to price and settle in August.
Barclays is the underwriter.
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