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Barclays plans to price one-year digital step-up notes linked to zloty
By Susanna Moon
Chicago, Aug. 22 - Barclays Bank plc plans to price digital step-up notes due Sept. 10, 2014 linked to the Polish zloty relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
If the currency gains by more than 5%, the payout at maturity will be par plus the maximum return of 16.35%.
If the currency gains by up to 5%, the payout will be par plus the digital return of 5%.
If the currency falls by up to 15%, the payout will be par.
Otherwise, investors will be fully exposed to losses if the currency falls by more than 15%.
Barclays will be the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as agents.
The notes will price on Aug. 23 and settle on Aug. 28.
The Cusip number is 06741TF44.
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