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Barclay plans one-year Stars linked to Apple via Merrill Lynch
By Toni Weeks
San Diego, Oct. 20 - Barclays Bank plc plans to price 0% Strategic Accelerated Redemption Securities due November 2012 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.
If the price of Apple shares closes at or above its initial price on the observation dates in May, August and November 2012, the notes will be called at par of $10 plus a call premium of 15% to 19% per year. The exact call premium will be determined at pricing.
Investors will receive par at maturity if the index falls by up to 5% and will be exposed to losses beyond 5%.
The notes will price and settle in November.
Bank of America Merrill Lynch is the agent.
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