Barclays plans two-year market-linked step-up notes tied to S&P 500

By Susanna Moon

Chicago, Jan. 9 – Barclays Bank plc plans to price market-linked step-up notes due January 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up level, 109.5% to 115.5% of the initial level, the payout at maturity will be par plus the index gain.

If the index gains by up to the step-up level, the payout will be par plus the step-up return of 9.5% to 15.5%.

Otherwise, investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in January and settle in February.

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