Barclays plans five-year trigger gears with no cap linked to S&P 500

By Susanna Moon

Chicago, Aug. 6 – Barclays Bank plc plans to price 0% trigger gears due Aug. 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par 1.16 to 1.26 times any index gain, with the exact upside gearing to be set at pricing.

If the index falls by up to 40%, the payout will be par.

If the index finishes below the 60% downside threshold, investors will lose 1% for every 1% decline.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on Aug. 28 and settle on Aug. 31.

The Cusip number is 06746T177.

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