Barclays plans 0% Accelerated Return Notes linked to three stocks

By Toni Weeks

San Luis Obispo, Calif., May 16 - Barclays Bank plc plans to price 14-month 0% Accelerated Return Notes due July 2014 linked to a basket of three stocks, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights of Exxon Mobil Corp., Occidental Petroleum Corp. and Schlumberger Ltd.

The payout at maturity will be par of $10 plus triple any gain in the basket, subject to a maximum return of 16% to 20%. The exact cap will be set at pricing. Investors will be fully exposed to any decline in the basket.

BofA Merrill Lynch will act as agent.

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

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