New Issue: Barclays prices $614,000 annual autocallables tied to S&P 500, oil fund

By Susanna Moon

Chicago, Aug. 23 – Barclays Bank plc priced $614,000 of 0% annual autocallable notes due Aug. 23, 2021 linked to the least performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call premium of 14.5% if each underlying asset closes at or above its initial level on any of four annual call valuation dates.

If the notes are not called, the payout at maturity will be par plus the digital percentage of 10% unless either underlying asset finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing component.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Annual autocallable notes
Underlying assets:	S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$614,000
Maturity:	Aug. 23, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each underlying component finishes at or above 60% barrier, par plus 10%; otherwise, 1% loss for each 1% decline of worse performing component
Call:	At par plus 14.5% per year if each underlying asset closes at or above its initial level on Aug. 20, 2018, Aug. 19, 2019, Aug. 18, 2020 or final valuation date
Initial levels:	2,425.55 for S&P and $29.46 for oil fund
Barriers:	1,455.33 for S&P and $17.68 for oil fund; 60% of initial levels
Pricing date:	Aug. 18
Settlement date:	Aug. 25
Agent:	Barclays
Fees:	0.65%
Cusip:	06744CEW7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.