Barclays plans to price Stars linked to Apple

By Toni Weeks

San Luis Obispo, Calif., March 31 – Barclays Bank plc plans to price 0% Strategic Accelerated Redemption Securities due May 2016 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annualized call premium of 15% to 19% if Apple stock closes at or above its initial share price on any of three observation dates, which are in October 2015, January 2016 and April 2016.

If the notes are not called, investors will experience a loss proportionate to the stock’s decline.

The notes are expected to price and settle in April.

BofA Merrill Lynch is the agent.

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