Barclays plans seven-year notes with 1% coupon floor tied to 10 stocks

By Susanna Moon

Chicago, Nov. 6 - Barclays Bank plc plans to price 0% notes due Nov. 29, 2019 linked to a basket of 10 equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Apple Inc., Freeport-McMoRan Copper & Gold Inc., Hewlett Packard Co., Eli Lilly and Co., Walgreen Co., Silver Wheaton Corp., New York Community Bancorp, Inc., Southern Copper Corp., Darden Restaurants, Inc. and Northeast Utilities, Inc.

The coupon will be the average of the stock performances, with a minimum of 1%. If a stock's return is zero or positive, its performance will be fixed at 6% to 8%. If a stock's return is negative, its performance will be the greater of the stock return and negative 20%.

The payout at maturity will be par plus the final coupon.

Barclays is the agent.

The notes will price on Nov. 27 and settle on Nov. 30.

The Cusip number is 06741TJU2.

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