By Marisa Wong
Morgantown, W.Va., Dec. 20 – Barclays Bank plc priced $1.25 million of phoenix autocallable notes due Dec. 20, 2022 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 annual rate of 9.5% if the fund closes at or above its 75% 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 price on any valuation date other than the first and final dates.
The payout at maturity will be par unless the fund finishes below the 50% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1.25 million
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| Maturity: | Dec. 20, 2022
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| Coupon: | 9.5% annualized, payable quarterly if fund closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless fund finishes below 50% barrier, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if fund closes at or above initial price on any observation date other than the first and final dates
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| Initial price: | $34.08
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| Coupon barrier: | $25.56, 75% of initial price
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| Barrier price: | $17.04, 50% of initial price
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
|
| Agent: | Barclays
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| Fees: | None
|
| Cusip: | 06744CP39
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