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Barclays to price three-year capped trigger gears tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – Barclays Bank plc plans to price 0% capped trigger gears due Nov. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 2 times the index return, up to a cap of 25% to 28%. The exact cap will be set at pricing.
Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.
Barclays Capital Inc. and UBS Financial Services Inc. are the agents.
The notes will price on Nov. 27.
The Cusip number is 06746N741.
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