By Wendy Van Sickle
Columbus, Ohio, June 21 – Barclays Bank plc priced $1.14 million of phoenix autocallable notes due June 14, 2024 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 12.83% per year if the ETF closes at or above its coupon barrier price, 75% of its initial price, on the related observation date.
The notes will be called at par if the ETF closes at or above its initial price on any quarterly call observation date.
The payout at maturity will be par unless the ETF finishes below its 75% barrier level, in which case investors will lose 1% for the 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,143,000
|
| Maturity: | June 14, 2024
|
| Coupon: | 12.83% payable quarterly if the ETF closes at or above its coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below its barrier price, in which case investors will lose 1% for the 1% decline
|
| Call: | At par if the ETF closes at or above its initial price on any quarterly call observation date
|
| Initial price: | $97.36
|
| Coupon barrier: | $73.02; 75% of initial price
|
| Barrier price: | $73.02; 75% of initial price
|
| Pricing date: | June 11
|
| Settlement date: | June 16
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06748EWQ2
|
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