Barclays plans autocallable return enhanced notes linked to GE

By Marisa Wong

Madison, Wis., Feb. 25 - Barclays Bank plc plans to price 0% autocallable return enhanced notes due March 18, 2015 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 9.5% if GE stock closes at or above the call level, expected to be 104.75% of the initial share price, on June 12, Sept. 11, 2014 or Dec. 11, 2014.

If the final share price is greater than the initial share price, the payout at maturity will be par plus double the index return, subject to a maximum return of 9.5%. Otherwise, investors will be fully exposed to the decline in the index.

The final share price will be the average of the closing share prices for the five averaging dates ending March 13, 2015.

Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.

The notes are expected to price Feb. 28 and settle March 5.

The Cusip number is 06741T6N2.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.