Barclays plans to price Stars linked to S&P 500 index

By Angela McDaniels

Tacoma, Wash., Aug. 15 – Barclays Bank plc plans to price 0% Strategic Accelerated Redemption Securities due August 2025 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 7.5% to 8.5% if the index closes at or above its initial level on any of six annual observation dates. The exact call premium will be set at pricing.

If the notes are not called, investors will have one-to-one exposure to the index’s decline at maturity.

BofA Securities Inc. is the agent.

The notes will price and settle in August.

© 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.