Barclays plans 9%-10% rate phoenix autocallables tied to SPDR S&P Oil

By Susanna Moon

Chicago, Jan. 5 – Barclays Bank plc plans to price phoenix autocallable notes due Aug. 5, 2019 linked to the least performing of 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% to 10% if the fund closes at or above its 70% 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 any quarterly call observation date other than the final date beginning with the second date.

The payout at maturity will be par unless the fund finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.

Barclays is the agent.

The notes will price on Jan. 31.

The Cusip number is 06744CQD6.

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