Barclays to price contingent barrier notes due 2020 linked to S&P 500

By Sarah Lizee

Olympia, Wash., Aug. 28 – Barclays Bank plc plans to price 0% contingent barrier notes due March 4, 2020 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 plus any index gain.

Investors will receive par if the index falls but ends at or above the 84.8% barrier and will be fully exposed to any losses if the index closes below its barrier level.

The final level will be the average of the closing levels on Feb. 24, 2020, Feb. 25, 2020, Feb. 26, 2020, Feb. 27, 2020 and Feb. 28, 2020.

Barclays is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.

The notes will price on Aug. 31 and settle on Sept. 6.

The Cusip number is 06746XNJ8.

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