Barclays plans 14-month capped gears tied to Financial Select Sector

By Marisa Wong

Morgantown, W.Va., Feb. 22 – Barclays Bank plc plans to price 0% capped gears due April 30, 2018 linked to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes above its initial level, the payout at maturity will be par plus 3 times the gain, up to a maximum return of 15.75% to 18.75%. The exact cap will be set at pricing.

If the fund return is negative, investors will lose 1% for each 1% decline.

Barclays and UBS Financial Services Inc. are the agents.

The notes will price on Feb. 23.

The Cusip number is 06745T301.

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