By Wendy Van Sickle
Columbus, Ohio, March 5 – Barclays Bank plc priced $406,000 of autocallable notes due Aug. 31, 2021 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 monthly coupon at an annualized rate of 11% if the ETF closes above its coupon barrier, 70% of its initial level, on the observation date that month.
The notes will be automatically called at par plus a coupon after three months if on any monthly call valuation date the ETF closes above its initial level.
The payout at maturity will be par, unless the ETF finishes below its initial level and has ever closed below 70% of its initial level any day during the life of the notes, in which case investors will be fully exposed to losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $406,000
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| Maturity: | Aug. 31, 2021
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| Coupon: | 11%, payable monthly if ETF closes above barrier level on observation date
|
| Price: | Par
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| Call: | Automatically at par plus coupon if ETF finishes above initial level on a monthly call date after three months
|
| Payout at maturity: | Par if final ETF value is above initial level or if ETF has never closed below 60% of initial level; full exposure to losses otherwise
|
| Initial ETF level: | $16.72
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| Barrier level: | $11.70, 70% of initial level
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | Barclays
|
| Fees: | 2.175%
|
| Cusip: | 06747P6G9
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