Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Barclays Sells Largest Equity-Tied Structured Note This Year

April 16 (Bloomberg) -- Barclays Plc sold $121.6 million of 13-month notes tied to Ford Motor Co., the largest equity-linked offering this year.

The securities, issued April 11, yield 8 percent a year, plus an additional 7.52 percent if the stock rises at least 8 percent from its initial value, according to a prospectus filed with the U.S. Securities and Exchange Commission. The notes, which Bank of America Corp. distributed for a 1.75 percent fee, have all principal at risk.

Mark Lane, a spokesman for Barclays in New York, didn’t respond to a voice mail seeking comment on the notes.

The next-largest offering tied to the Dearborn, Michigan-based car company was $121.1 million of one-year securities issued by Bank of America on March 29, 2012, according to data compiled by Bloomberg going back to January 2010. The notes yielded 10 percent interest, though didn’t make an extra 4.51 percent “step” payment because the stock failed to rise at least 10 percent, according to analysis of a prospectus filed with the SEC.

Shares of the manufacturer of last year’s best-selling car, the Ford Focus, have gained 1.3 percent this year to $13.12.

Banks create structured notes by packaging debt with derivatives to offer customized bets to retail investors while earning fees and raising money. Derivatives are contracts whose value is derived from stocks, bonds, commodities and currencies, or events such as changes in interest rates or the weather.

To contact the reporter on this story: Kevin Dugan in New York at

To contact the editor responsible for this story: Alan Goldstein at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.