Published on 3/31/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $30.3 million Accelerated Return Notes linked to tech stocks
By Angela McDaniels
Tacoma, Wash., March 31 - Barclays Bank plc priced $30.3 million of 0% Accelerated Return Notes due June 1, 2015 linked to a basket of technology stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes Apple Inc. with a 33.34% weight, Facebook, Inc. with a 33.33% weight and Yahoo! Inc. with a 33.33% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 22.35%. Investors will lose 1% for every 1% decline in the basket.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying stocks: | Apple Inc. (33.34% weight), Facebook, Inc. (33.33% weight) and Yahoo! Inc. (33.33% weight)
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Amount: | $30,298,780
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Maturity: | June 1, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is positive, par plus 300% of basket return, subject to 22.35% cap; 1% loss for every 1% decline in basket
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Initial share prices: | $537.46 for Apple, $60.97 for Facebook and $35.59 for Yahoo!
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Pricing date: | March 27
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Settlement date: | April 3
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06742B485
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