US Wrap: Barclays offers protection in exchange for cap

Barclays Bank has launched another principal protected note in the US market – this time offering a full 100% participation rate, but with a cap on returns to fund the guarantee. The note lasts five years and will pay the returns of the S&P 500 index at maturity, subject to a cap of 37–45%, with the exact level to be set at pricing. Capital is 100% protected. The note follows on the heels of another investment launched by the bank that pays a participation rate of 29% for capi

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