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Barclays plans Accelerated Return Notes linked to financial stocks
By Angela McDaniels
Tacoma, Wash., March 11 – Barclays Bank plc plans to price 0% Accelerated Return Notes due May 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, Citigroup Inc. with a 33.33% weight and JPMorgan Chase & Co. with a 33.33% weight.
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 that is expected to be 17% to 21% and will be set at pricing. Investors will lose 1% for every 1% decline in the basket.
BofA Merrill Lynch is the agent.
The notes are expected to price and settle in March.
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