Barclays plans 14-month bear Accelerated Return Notes tied to S&P 500

By Susanna Moon

Chicago, Aug. 8 – Barclays Bank plc plans to price 0% bear Accelerated Return Notes due October 2017 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple the absolute value of any index decline, up to a maximum return of 10% to 14%. The exact cap will be set at pricing.

Investors will lose 1% for every 1% gain in the index.

Bank of America Merrill Lynch is the agent.

The notes will price in August and settle in September.

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