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Barclays plans Accelerated Return Notes on three financial stocks
By Toni Weeks
San Luis Obispo, Calif., July 17 – Barclays Bank plc plans to price 14-month 0% Accelerated Return Notes due September 2015 linked to a basket of three financial sector stocks, according to an FWP filing with the Securities and Exchange Commission.
The equally weighted basket stocks are Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.
The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum return of 12% to 16%. The exact cap will be set at pricing.
Investors will be exposed to any decline in the basket.
The notes will price and settle in July.
BofA Merrill Lynch is the agent.
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