Published on 1/22/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $9.15 million Accelerated Return Notes linked to technology stocks
By Marisa Wong
Madison, Wis., Jan. 22 - Barclays Bank plc priced $9.15 million of 0% Accelerated Return Notes due March 28, 2014 linked to a basket of four equally weighted technology sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Microsoft Corp., Oracle Corp., Cisco Systems, Inc. and Qualcomm, Inc.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 18%.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying stocks: | Microsoft Corp. (Nasdaq: MSFT), Oracle Corp. (ORCL), Cisco Systems, Inc. (Nasdaq: CSCO) and Qualcomm, Inc. (Nasdaq: QCOM)
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Amount: | $9,151,050
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Maturity: | March 28, 2014
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, capped at 18%; full exposure to losses
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Initial prices: | $27.23 for Microsoft, $34.62 for Oracle, $20.95 for Cisco, $65.12 for Qualcomm
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Pricing date: | Jan. 17
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Settlement date: | Jan. 23
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Agent: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 06742A214
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