Barclays plans 14-month Accelerated Return Notes tied to energy stocks

By Susanna Moon

Chicago, Aug. 18 – Barclays Bank plc plans to price 0% Accelerated Return Notes due October 2016 linked to a basket of three equally weighted energy sector stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Hess Corp., Helmerich & Payne, Inc. and Exxon Mobil Corp.

The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 19% to 23%. The exact cap will be set at pricing.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in August and settle in September.

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