Barclays to price trigger absolute return step notes linked to S&P

By Sarah Lizee

Olympia, Wash., May 7 – Barclays Bank plc plans to price 0% trigger absolute return step securities due May 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return of 30% to 32%.

If the index falls by up to its 75% downside threshold, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

Barclays and UBS Financial Services Inc. are the agents.

The notes will price on May 28.

The Cusip number is 06747A243.

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