Barclays plans seven-year notes linked to basket of five stocks

By Marisa Wong

Madison, Wis., April 22 - Barclays Bank plc plans to price notes due April 29, 2021 linked to a basket of five common stocks, according a 424B2 filing with the Securities and Exchange Commission.

The basket includes the common stocks of Tesla Motors, Inc., Cree, Inc., SunEdison, Inc. and Canadian Solar Inc. and the American Depositary Shares of Trina Solar Ltd.

If the closing price of each basket component is greater than or equal to its respective initial price on an annual determination date, the notes will pay a coupon of 14%. Otherwise, the rate will be 1% for that coupon period.

The payout at maturity will be par plus the final coupon payment.

Barclays is the agent.

The notes will price on April 25 and settle on April 30.

The Cusip number is 06741UCR3.

© 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.