Barclays plans annual reset coupon buffered notes linked to S&P 500

By Jennifer Chiou

New York, Aug. 19 - Barclays Bank plc plans to price annual reset coupon buffered notes due Aug. 31, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable annually and will equal the 6.7% maximum digital percentage if the annual return for the index during the relevant period is positive. Otherwise, the coupon will be the 2% minimum digital percentage for that year.

The payout at maturity will be par unless the final index level is less than 80% of the initial index level, in which case investors will lose 1% for every 1% decline below the buffer.

The notes (Cusip: 06738KSR3) are expected to price on Aug. 29 and settle on Aug. 31.

Barclays Capital Inc. is the agent.

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