Published on 6/29/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $20.56 million Strategic Accelerated Redemption Securities on S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 29 – Barclays Bank plc priced $20.56 million of 0% Strategic Accelerated Redemption Securities due June 25, 2027 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 plus a premium of 6.55% per year if the closing level of the index is greater than or equal to its starting value on any annual observation date.
If the notes are not called, investors will lose 1% for each 1% decline in the index.
BofA Securities, Inc. 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 index
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Amount: | $20,560,170
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Maturity: | June 25, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | 1% loss for each 1% decline in the index
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Call: | At par plus premium of 6.55% per year if index closes at or above its initial value on any annual observation date
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Initial value: | 4,266.49
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Pricing date: | June 24
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Settlement date: | July 1
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 06747T176
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