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Barclays plans Accelerated Return Notes on semiconductor sector stocks
By Toni Weeks
San Luis Obispo, Calif., May 14 – Barclays Bank plc plans to price 0% Accelerated Return Notes due July 2016 linked to a basket of three semiconductor sector stocks, according to an FWP with the Securities and Exchange Commission.
The basket is comprised of the common stocks of Intel Corp., Skyworks Solutions, Inc. and Texas Instruments Inc.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 16% to 20%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price in May and settle in June.
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