Barclays plans 0% Accelerated Return Notes tied to PHLX Oil Service

By Jennifer Chiou

New York, Nov. 1 - Barclays Bank plc plans to price 0% Accelerated Return Notes due January 2013 linked to the PHLX Oil Service Sector index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 32% to 36%. The exact cap will be set at pricing.

Investors will be fully exposed to any decrease in the index level.

The notes are expected to price and settle in November.

Bank of America Merrill Lynch will act as agent.

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