New Issue: Barclays prices $5.2 million callable contingent coupon notes on index, fund

By Susanna Moon

Chicago, July 7 – Barclays Bank plc priced $5.2 million of callable contingent coupon notes due June 26, 2020 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent semiannual coupon of 9.35% if each underlying component closes at or above its 60% coupon barrier on the observation date for that period.

The payout at maturity will be par unless either component finishes below its 60% trigger level, in which case investors will be fully exposed to any losses.

The notes are callable at par on any interest payment date.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying:	S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$5,202,000
Maturity:	June 26, 2020
Coupon:	9.35% annualized, payable semiannually if each component closes at or above 60% coupon barrier on observation date for that period
Price:	Par
Payout at maturity:	Par unless any component finishes below its 60% barrier level, in which case 1% loss for each 1% decline of the worse performing component from initial level
Call option:	At par on any interest payment date
Initial levels:	2,438.30 for S&P, $31.02 for oil fund
Trigger levels:	1,462.98 for S&P, $18.61 for oil fund, 60% of initial levels
Pricing date:	June 23
Settlement date:	June 30
Agent:	Barclays
Fees:	0.65%
Cusip:	06741VX72

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