Barclays plans Accelerated Return Notes tied to three financial stocks

By Jennifer Chiou

New York, May 14 - Barclays Bank plc plans to price 0% Accelerated Return Notes due July 2015 linked to a basket of three financial sector stocks, according to an FWP with the Securities and Exchange Commission.

The basket includes Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Wells Fargo & Co. with a 33.34% weight.

The payout at maturity will be par of $10 plus triple any gain in the basket, subject to a maximum return that is expected to be 14% to 18% and will be set at pricing. Investors will be fully exposed to any decline in the basket.

The notes are expected to price in May and settle in June.

BofA Merrill Lynch is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.