New Issue: Barclays sells $764,000 phoenix autocallables due 2018 tied to SPDR S&P Oil

By Susanna Moon

Chicago, April 28 – Barclays Bank plc priced $764,000 of phoenix autocallable notes due July 27, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund.

The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the fund closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.

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

The payout at maturity will be par unless the fund finishes below its initial level and ever closes below its 65% knock-in barrier during the life of the notes, in which case investors will be exposed to any losses.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying fund:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$764,000
Maturity:	July 27, 2018
Coupon:	7.5%, payable quarterly if fund closes at or above its 65% coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless fund falls and ever dips below 65% knock-in barrier, in which case 1% loss for each 1% decline
Call:	At par if fund closes at or above initial level on second, third or fourth review date
Initial level:	$36.09
Barrier levels:	$23.46, 65% of initial level
Pricing date:	April 25
Settlement date:	April 28
Agent:	Barclays
Fees:	2.5%
Cusip:	06741VQD7

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