By Wendy Van Sickle
Columbus, Ohio, April 3 – Barclays Bank plc priced $393,000 of phoenix autocallable notes due June 28, 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 quarterly coupon at an annual rate of 8. 5% 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 with the second observation date.
The payout at maturity will be par unless the ETF finishes below its initial level and ever closes below 70% barrier price, 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: | $393,000
|
| Maturity: | June 28, 2019
|
| Coupon: | 8.5% annualized, payable quarterly if ETF closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless ETF finishes below initial level and ever closes below barrier, 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 with the second observation date
|
| Initial price: | $35.35
|
| Coupon barrier: | $24.75, 70% of initial price
|
| Barrier: | $24.75, 70% of initial price
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | Barclays
|
| Fees: | 2.175%
|
| Cusip: | 06744CXS5
|
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