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Barclays to sell buffered Super Track notes tied to S&P 500 index
By Marisa Wong
Madison, Wis., Aug. 22 - Barclays Bank plc plans to price 0% buffered Super Track notes due Sept. 5, 2012 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 the initial level, the payout at maturity will be par plus double the index return, subject to a maximum return of at least 15.5%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
The notes (Cusip: 06738KSS1) will price on Aug. 23 and settle on Aug. 26.
Barclays Capital Inc. is the agent.
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