Published on 7/12/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $12.28 million Accelerated Return Notes linked to Apple
By Angela McDaniels
Tacoma, Wash., July 12 – Barclays Bank plc priced $12.28 million of 0% Accelerated Return Notes due July 21, 2017 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any increase in Apple’s share price, up to a maximum return of 22.35%. Investors will be exposed to any decline in the share price.
BofA Merrill Lynch is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Accelerated Return Notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $12,276,270
|
| Maturity: | July 21, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any stock gain, capped at 22.35%; exposure to any stock decline
|
| Initial share price: | $96.06
|
| Pricing date: | July 7
|
| Settlement date: | July 13
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 06744K178
|
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