Barclays plans Stars linked to S&P 500 index via Merrill Lynch

By Jennifer Chiou

New York, Oct. 31 – Barclays Bank plc plans to price 0% Strategic Accelerated Redemption Securities due December 2015 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

If the index closes at or above its initial level on any observation date, the notes will be called at par of $10 plus an annualized call premium of 7% to 11%. The exact call premium will be set at pricing. The call dates will be in May 2015, August 2015 and December 2015.

If the notes are not called, investors will share fully in any losses.

The notes are expected to price in November and settle in December.

BofA Merrill Lynch is the agent.

© 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.