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Barclays plans 14-month Accelerated Return Notes tied to financials
By Susanna Moon
Chicago, Aug. 11 – Barclays Bank plc plans to price 0% Accelerated Return Notes due October 2017 linked to a basket of three financial sector stocks, according to an FWP with the Securities and Exchange Commission.
The underlying companies 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 17.5% to 21.5%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes will price in August and settle in September.
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