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Barclays plans five-year uncapped trigger gears linked to S&P 500
New York, June 1 – Barclays Bank plc plans to price 0% trigger gears due June 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.18 to 1.28 times any index gain. The exact upside gearing will be set at pricing.
If the index falls by up to 40%, the payout will be par.
Investors will lose 1% for each 1% decline if the index finishes below its 60% downside threshold.
UBS Financial Services Inc. and Barclays are the agents.
The notes will price on June 26 and settle on June 29.
The Cusip number is 06746T870.
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