Barclays plans 12.5% STEP Income Securities due 2015 on FireEye

By Marisa Wong

Madison, Wis., Oct. 3 – Barclays Bank plc plans to price 12.5% STEP Income Securities due October 2015 linked to FireEye, Inc. shares, according to an FWP with the Securities and Exchange Commission.

Interest will be payable quarterly.

If the price of FireEye shares finishes at or above the step level – 112.5% of the initial price – the payout at maturity will be par of $10 plus a step payment of 1% to 5% that will be set at pricing.

If the stock finishes below the step level but at or above the threshold level, 95% of the initial price, the payout will be par.

Otherwise, investors will lose 1% for every 1% share price decline beyond 5%.

The securities will price and settle in October.

BofA Merrill Lynch is the agent.

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