Barclays eyes phoenix autocallable notes linked to SPDR S&P Oil & Gas

By Sarah Lizee

Olympia, Wash., Dec. 7 – Barclays Bank plc plans to price phoenix autocallable notes due March 25, 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 11.5% to 12.5% if the underlying asset closes at or above its 60% 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 60% barrier during the life of the notes, in which case investors will be exposed to any losses.

Barclays is the agent.

The notes will price on Dec. 20.

The Cusip number is 06746XZT3.

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