Barclays plans buffered autocallable notes due 2026 on two oil funds

By Wendy Van Sickle

Columbus, Ohio, July 12 – Barclays Bank plc plans to price buffered autocallable notes due July 20, 2026 linked to the least performing of the United States Oil Fund, LP 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 monthly contingent coupon of 8.05% per year if each asset closes at or above its coupon barrier, 65% of its initial level, on the related observation date.

The notes will be called at par if each asset closes at or above its initial level on any quarterly call valuation date after one year.

The payout at maturity will be par unless either asset falls by more than 25%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond 25%.

Barclays is the agent.

The notes will price on July 15.

The Cusip number is 06747N6F6.

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