Published on 12/4/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $11.54 million Accelerated Return Notes on insurance stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Barclays Bank plc priced $11.54 million of 0% Accelerated Return Notes due Jan. 27, 2017 linked to an equally weighted basket containing the common stocks of Lincoln National Corp. and MetLife, Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 20.1%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying stocks: | Lincoln National Corp. (Symbol: LNC) and MetLife, Inc. (Symbol: MET), both 50% weighted
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Amount: | $11,543,600
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Maturity: | Jan. 27, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 20.1%; exposure to any basket decline
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Initial share prices: | $54.75 for Lincoln, $50.52 for MetLife
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Pricing date: | Nov. 24
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Settlement date: | Dec. 2
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06743T790
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