Published on 9/28/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $22.37 million Accelerated Return Notes on three financial stocks
By Marisa Wong
Morgantown, W.Va., Sept. 28 – Barclays Bank plc priced $22.37 million of 0% Accelerated Return Notes due Nov. 28, 2016 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying stocks are Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.
If the basket return is positive, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 16.53%. If the basket return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying stocks: | Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC)
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Amount: | $22,373,440
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Maturity: | Nov. 28, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 16.53%; exposure to any basket decline
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Initial share prices: | $49.13 for Citi, $60.22 for JPMorgan and $50.55 for Wells
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Pricing date: | Sept. 24
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Settlement date: | Oct. 1
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06743Q630
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