Barclays plans phoenix autocallables due 2018 linked to SPDR S&P Oil

By Susanna Moon

Chicago, April 10 – Barclays Bank plc plans to price phoenix autocallable notes due July 27, 2018 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 an annualized rate of 7.5% to 8.5% if the fund closes at or above the 65% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on the second, third or fourth observation date.

The payout at maturity will be par plus the contingent coupon unless the fund finishes below its initial level and ever closes below the 65% knock-in level, in which case investors will lose 1% for each 1% decline.

Barclays is the agent.

The notes will price on April 25 and settle on April 28.

The Cusip number is 06741VQD7.

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