Barclays to price callable contingent coupon notes linked to two ETFs

By Sarah Lizee

Olympia, Wash., Jan. 9 – Barclays Bank plc plans to price callable contingent coupon notes due Jan. 21, 2022 linked to the lesser performing of the SPDR S&P Biotech exchange-traded fund and 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 annualized rate of 14% if each ETF closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.

Barclays may call the notes in whole at par on any contingent interest payment date prior to maturity.

If each ETF finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing ETF.

Barclays is the agent.

The notes will price on Jan. 18.

The Cusip number is 06741WEN6.

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