Published on 8/29/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $80.07 million Accelerated Return Notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 29 – Barclays Bank plc priced $80.07 million of 0% Accelerated Return Notes due Oct. 26, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 10%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Barclays Bank plc
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500
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Amount: | $80,070,990
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Maturity: | Oct. 26, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 10%; exposure to any index decline
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Initial index level: | 2,438.97
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 23, 2018
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Pricing date: | Aug. 24
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Settlement date: | Aug. 31
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06746L661
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