Barclays plans Capped Leveraged Index Return Notes on biotech index

By Wendy Van Sickle

Columbus, Ohio, Nov. 18 – Barclays Bank plc plans to price 0% capped Leveraged Index Return Notes due January 2018 linked to the S&P Biotechnology Select Industry, according to an FWP filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return that is expected to be 23% to 28% and will be set at pricing. Investors will receive par if the index declines by 5% or less and will lose 1% for every 1% that it may decline beyond 5%.

The equally-weighted index is designed to measure the performance of the biotechnology sub-industry portion of the S&P Total Market index, an index that measures the performance of the U.S. equity market and includes all U.S. common equities listed on the New York Stock Exchange, the NYSE MKT, the Nasdaq Global Select Market, and the Nasdaq Capital Market.

BofA Merrill Lynch is the underwriter.

The notes will price and settle in November.

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