Barclays plans to price 0% one-year notes tied to basket of 13 stocks

By Toni Weeks

San Luis Obispo, Calif., July 23 – Barclays Bank plc plans to price 0% notes due Aug. 12, 2015 linked to a basket of 13 stocks, equally weighted, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Amazon.com, Inc., AMC Networks Inc., CBS Corp., Discovery Communications, Inc., DISH Network Corp., Google Inc., Lions Gate Entertainment Corp., Scripps Networks Interactive, Inc., Time Warner Inc., T-Mobile US, Inc., Twenty-First Century Fox, Inc., Verizon Communications Inc. and Viacom, Inc.

For each $1,000 principal amount of notes, the payout at maturity will be par plus the return multiplied by an adjustment factor of 99.43%. Because of the adjustment factor, investors will be exposed to losses if the basket return is less than about 0.57%.

The final stock prices will be equal to the average of the share prices on the five trading days ending Aug. 7, 2015.

The notes (Cusip: 06741UGM0) are expected to price July 25 and settle July 30.

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

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