Barclays to price Stars linked to Apple stock via Bank of America

By Marisa Wong

Madison, Wis., Nov. 9 - Barclays Bank plc plans to price 0% Strategic Accelerated Redemption Securities due December 2013 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

Bank of America Merrill Lynch is the agent.

The notes will be called at par of $10 plus an annualized call premium of 16% to 20% if Apple stock closes at or above the initial share price on any of three observation dates. The observation dates will be in May 2013, August 2013 and December 2013.

If the notes are not called and the final share price is at least 95% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the share price declines beyond 5%.

The notes are expected to price in November and settle in December.

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