Barclays plans trigger return optimization notes linked to S&P 500

By Jennifer Chiou

New York, Feb. 6 - Barclays Bank plc plans to price 0% trigger return optimization securities due Feb. 28, 2017 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.5 times the index return, subject to a maximum return of 25% to 30% that will be set at pricing.

If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par.

If the final index level is less than the trigger level, investors will be fully exposed to the index's decline from its initial level.

The notes (Cusip: 06742B584) are expected to price on Feb. 25 and settle on Feb. 28.

UBS Financial Services Inc. and Barclays are the underwriters.

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