Barclays plans trigger absolute return step securities linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Dec. 4 – Barclays Bank plc plans to price 0% trigger absolute return step securities due Dec. 30, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return and the index return. The step return is expected to be 30% to 33% and will be set at pricing. If the index declines by 20% or less, the payout will be par plus the absolute value of the index return. If the index declines by more than 20%, investors will lose 1% for every 1% that the index declines from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price Dec. 15.

The Cusip number is 06746N394.

© 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.