By Tali Rackner
Minneapolis, Feb. 5 – Barclays Bank plc priced $498,000 of phoenix autocallable notes due July 31, 2019 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 semiannual coupon at an annual rate of 7% if the ETF closes at or above its 70% coupon barrier on the observation date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial price on any observation date beginning July 26.
The payout at maturity will be par unless the ETF finishes below its initial price or ever closes below its 70% barrier price during the life of the notes, in which case investors will be fully 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: | $498,000
|
| Maturity: | July 31, 2019
|
| Coupon: | 7% annualized, payable semiannually if ETF closes at or above 70% coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless ETF finishes below initial price or ever closes below 70% barrier during the life of the notes, in which case full exposure to losses
|
| Call: | At par plus contingent coupon if ETF closes at or above initial price on any observation date beginning July 26
|
| Initial price: | $39.06
|
| Coupon barrier/barrier price: | $27.34, 70% of initial price
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | Barclays
|
| Fees: | 2.65%
|
| Cusip: | 06744CQC8
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
