Barclays plans 7.5% STEP Income Securities linked to Ford Motor

By Susanna Moon

Chicago, May 16 - Barclays Bank plc plans to price 7.5% STEP Income Securities due June 2014 linked to Ford Motor Co. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

If Ford stock finishes at or above the step level - 107.5% of the initial price - the payout at maturity will be par of $10 plus a step payment of 1% to 5%. The exact percentage will be set at pricing.

If the stock finishes below the step level but at or above its initial level, the payout will be par.

Otherwise, investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in May and settle in June.

© 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.