Published on 6/15/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $8.81 million Strategic Accelerated Redemption Securities on S&P 500
By Marisa Wong
Los Angeles, June 15 – Barclays Bank plc priced $8,812,570 of 0% Strategic Accelerated Redemption Securities due June 18, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 16% if the index closes at or above its initial level on Nov. 20, Feb. 19, 2021 or June 11, 2021.
If the notes are not called, investors will lose 1% for every 1% that the final index level is less than the initial index level.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500
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Amount: | $8,812,570
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Maturity: | June 18, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | 1% loss for every 1% that final index level is less than initial index level
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Call: | At par plus 16% per year if index closes at or above initial level on Nov. 20, Feb. 19, 2021 or June 11, 2021
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Initial index level: | 3,029.73
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Pricing date: | May 28
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Settlement date: | June 4
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Agent: | BofA Merrill Lynch
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Fees: | 1.25%
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Cusip: | 06747H818
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