Barclays plans contingent coupon buffered autocalls on oil & gas ETF

By Emma Trincal

New York, Oct. 15 – Barclays Bank plc plans to price buffered autocallable contingent coupon notes due Oct. 20, 2022 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at a 9.5% annualized rate if the ETF closes at or above its 80% coupon barrier value on the related monthly observation date.

The notes will be callable at par if the ETF closes at or above its initial level on any quarterly call date after six months.

The payout at maturity will be par unless the ETF finishes below 80% of the initial level, in which case investors will lose 1% for each 1% decline beyond 20%.

Barclays is the agent.

The notes were set to price on Oct. 15 and will settle on Oct. 20.

The Cusip number is 06747QML8.

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