Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $211,000 phoenix autocallables linked to SPDR S&P Oil
By Wendy Van Sickle
Columbus Ohio, Nov. 1 – Barclays Bank plc priced $211,000 of phoenix autocallable notes due April 30, 2020 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% if the underlying asset closes at or above its 70% coupon barrier on the related observation date.
After six months, the notes will be called at par plus the contingent coupon if the asset closes at or above its initial price on any quarterly observation date other than the final date.
The payout at maturity will be par unless the underlying asset ever closes below its 70% barrier during the life of the notes, in which case investors will be exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying asset: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $211,000
|
| Maturity: | April 30, 2020
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| Coupon: | 9% annualized, payable quarterly if asset closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless asset ever closes below barrier, in which case 1% loss per 1% decline
|
| Call: | After six months, at par plus contingent coupon if asset closes at or above initial price on any quarterly observation date other than final date
|
| Initial price: | $39.25
|
| Coupon barrier: | $25.14, 70% of initial price
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| Barrier: | $25.14, 70% of initial price
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| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Barclays
|
| Fees: | 2.175%
|
| Cusip: | 06746XTA1
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