By Kiku Steinfeld
Chicago, June 29 – Barclays Bank plc priced $1.2 million of Strategic Accelerated Redemption Securities due June 28, 2024 linked to a basket of three indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the stocks of Morgan Stanley with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Goldman Sachs Group, Inc. with a 33.34% weight.
The notes will be called at a premium of 13% per year if the closing level of the basket is greater than its starting value on any yearly observation date.
If the notes are not called, the payout at maturity will be par of $10 plus the return of the basket with full exposure to the decline.
Barclays and BofA Securities, Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Guarantor: | Bank of America Corp.
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| Issue: | Strategic Accelerated Redemption Securities
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| Underlying basket: | JPMorgan Chase & Co. (33.33% weight), Morgan Stanley (33.33% weight) and Goldman Sachs Group, Inc. (33.34% weight)
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| Amount: | $1.2 million
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| Maturity: | June 28, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to the decline if notes are not called
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| Call: | Par plus 13% a year if the closing level of the basket is greater than its starting value on any yearly observation date
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| Initial index levels: | $361.50 for Goldman, $151.76 for JPMorgan, $87.91 for Morgan Stanley
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| Pricing date: | June 17
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| Settlement date: | June 24
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| Agents: | Barclays and BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 06747W401
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