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Barclays plans 0% Accelerated Return Notes linked to S&P 500
By Toni Weeks
San Diego, April 28 - Barclays Bank plc plans to price 14-month 0% Accelerated Return Notes due July 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 10% to 14%. The exact cap will be set at pricing. Investors will be fully exposed to any decrease in the index level.
Merrill Lynch will act as the agent.
The notes are expected to price in May and settle in June.
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