Barclays plans 8% to 9% phoenix autocallables tied to SPDR oil & gas

New York, June 13 – Barclays Bank plc plans to price 8% to 9% phoenix autocallable notes due Sept. 30, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 9% if the fund closes at or above its 70% coupon barrier on the observation date for that period.

Starting on the second quarterly observation date, the notes will be automatically called at par if the fund closes at or above its initial price on a quarterly observation date.

The payout at maturity will be par unless the fund closes below its 70% barrier price on any day during the life of the notes, in which case investors will be exposed to any losses of the fund.

Barclays is the agent.

The notes will price on June 26 and settle on June 29.

The Cusip number is 06746XEM1.

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