By Jennifer Chiou
New York, Nov. 26 – Barclays Bank plc priced $18,108,260 of 0% Strategic Accelerated Redemption Securities due Dec. 11, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on a quarterly observation date, the notes will be called at par of $10 plus an annualized call premium of 7.38%. The observation dates begin on May 22, 2015.
If the notes are not called and the index finishes at or above the initial value, the payout at maturity will be par.
Otherwise, investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500
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| Amount: | $18,108,260
|
| Maturity: | Dec. 11, 2015
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above initial value, par; otherwise, investors will be exposed to any losses
|
| Call: | Par plus 7.38% per year if index closes at or above its initial level quarterly beginning on May 22, 2015
|
| Initial level: | 2,067.03
|
| Pricing date: | Nov. 25
|
| Settlement date: | Dec. 3
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06742Y626
|
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