Barclays to sell Accelerated Return Notes on basket of bank stocks

By Devika Patel

Knoxville, Tenn., Jan. 19 – Barclays Bank plc plans to price 0% Accelerated Return Notes due March 2017 linked to a basket of three equally weighted financial sector stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying 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, up to a maximum return of 17% to 21%. The exact cap will be set at pricing.

Investors will be exposed to any losses.

Merrill Lynch & Co. is the agent.

The notes will price in January and settle in February.

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