Barclays plans 22- to 25-month digital notes linked to S&P 500

By Marisa Wong

Madison, Wis., Sept. 10 - Barclays Bank plc plans to price 0% digital notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to mature between 22 and 25 months after pricing.

If the index return is at least negative 10%, the payout at maturity will be the maximum settlement amount of $1,090 to $1,105 for each $1,000 of notes. The exact maximum amount will be set at pricing.

If the return is less than negative 10%, investors will lose 1.1111% for every 1% decline beyond the 10% buffer.

The notes (Cusip: 06741TJ57) are expected to price and settle in September.

Barclays is the agent.

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