By Angela McDaniels
Tacoma, Wash., Jan. 15 – Barclays Bank plc priced $21.96 million of 0% Accelerated Return Notes due March 29, 2016 linked to basket of three energy sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes Exxon Mobil Corp. with a 33.34% weight, Occidental Petroleum Corp. with a 33.33% weight and Hess Corp. with a 33.33% weight.
If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a cap of 20.45%. If the final basket level is less than the initial basket level, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying stocks: | Exxon Mobil Corp. (33.34% weight; NYSE: XOM), Occidental Petroleum Corp. (33.33% weight; NYSE: OXY) and Hess Corp. (33.33% weight; NYSE: HES)
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Amount: | $21,962,930
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Maturity: | March 29, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any basket gain in the basket, up to 20.45% maximum return; exposure to any basket decline
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Initial share prices: | $90.00 for Exxon Mobil, $74.97 for Occidental Petroleum and $67.69 for Hess
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Pricing date: | Jan. 13
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Settlement date: | Jan. 21
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06742Y139
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