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Barclays plans Accelerated Return Notes on three technology stocks
By Marisa Wong
Madison, Wis., Aug. 15 – Barclays Bank plc plans to price 14-month 0% Accelerated Return Notes due October 2015 linked to a basket of three technology sector stocks, according to an FWP filing with the Securities and Exchange Commission.
The equally weighted basket stocks are Apple Inc., Facebook, Inc. and Yahoo! Inc.
The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum return of 15% to 19%. The exact cap will be set at pricing.
Investors will be exposed to any decline in the basket.
BofA Merrill Lynch is the agent.
The notes will price in August and settle in September.
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