By Marisa Wong
Morgantown, W.Va., July 8 – Barclays Bank plc priced $3 million of 0% autocallable securities due July 3, 2019 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 be called at par plus an annualized premium of 10% if the fund closes at or above 90% of its initial level on any quarterly determination date.
If the notes are not called and the fund finishes at or above the redemption threshold, the payout at maturity will be par plus 30%.
If the fund finishes below the redemption threshold but at or above the 75% trigger level, the payout will be par. Otherwise, investors will be fully exposed to the fund decline.
Barclays is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable securities
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $3 million
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| Maturity: | July 3, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund finishes at or above the redemption threshold, par plus 30%; if fund finishes below redemption threshold but at or above trigger level, par; otherwise, full exposure to fund decline
|
| Call: | At par plus 10% per year if the fund closes at or above redemption threshold on any quarterly determination date
|
| Initial price: | $34.81
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| Redemption threshold: | $31.329, 90% of initial price
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| Trigger price: | $26.108, 75% of initial price
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| Pricing date: | June 30
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| Settlement date: | July 6
|
| Agent: | Barclays with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 06745B102
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