Barclays to price Accelerated Return Notes linked to financial stocks

By Angela McDaniels

Tacoma, Wash., Jan. 16 – Barclays Bank plc plans to price 0% Accelerated Return Notes due January 2017 linked to a basket of three financial sector stocks, according to an FWP filing with the Securities and Exchange Commission.

The basket includes Wells Fargo & Co. with a 33.34% weight, JPMorgan Chase & Co. with a 33.33% weight and Citigroup Inc. with a 33.33% weight.

If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a cap that is expected to be 25% to 29% and will be set at pricing. If the final basket level is less than the initial basket level, investors will be fully exposed to the decline.

BofA Merrill Lynch is the agent.

The notes will price in January and settle in February.

© 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.