Matchless Cape upgrade bound to unbound?

Jesya - Lost City
Jesya - Lost City Posts: 291 Arc User
edited July 2014 in The Crafting Nook
Does the matchless cape upgrade (aeu) go from bound to unbound just like the tomes?

I vaguely remember when upgrading my cape I got a message stating when equipped it will be bound, but I never tested to see if I could trade it.

Does anyone know 100% if true or not?