Barclays to price callable contingent coupon notes linked to oil ETFs

By Marisa Wong

Morgantown, W.Va., Oct. 16 – Barclays Bank plc plans to price callable contingent coupon notes due Oct. 22, 2021 linked to the least performing of the VanEck Vectors Oil Services exchange-traded fund and 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 quarterly coupon at an annualized rate of 9.5% to 10% if each fund closes at or above its 70% coupon barrier on the related quarterly observation date.

The notes are callable at par on any interest payment date after six months.

The payout at maturity will be par unless either fund finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the worse performing fund.

Barclays is the agent.

The notes will price on Oct. 19.

The Cusip number is 06744CE49.

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