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Barclays plans to price 7.5%-9.5% digital notes linked to S&P 500
By Marisa Wong
Madison, Wis., Jan. 14 - Barclays Bank plc plans to price digital notes due Jan. 29, 2016 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If the index closes at or above the initial level on an annual observation date, interest will be equal to a digital coupon of 7.5% to 9.5% that will be set at pricing. Interest is payable annually.
If the final index level is at least 50% of the initial level, the payout at maturity will be par. Otherwise, the payout will be par plus the index return.
The notes (Cusip: 06740PZZ2) will price on Jan. 26 and settle on Jan. 31.
Barclays Capital Inc. is the agent.
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