New Issue: Barclays prices $7.59 million callable contingent notes tied to S&P 500, oil and gas ETF

By Wendy Van Sickle

Columbus, Ohio, April 26 – Barclays Bank plc priced $7.59 million of callable contingent coupon notes due April 25, 2019 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual coupon at an annualized rate of 12% if each underlying asset closes at or above its barrier level, 60% of its initial level, on the observation date for that period.

The notes will be callable at par on any coupon payment date.

If each underlying asset finishes at or above its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying assets:	S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$7,592,000
Maturity:	April 25, 2019
Coupon:	12%, payable semiannually if each asset closes at or above barrier level on observation date for that period
Price:	Par of $1,000
Payout at maturity:	Par unless either asset finishes below its barrier level, in which case investors will be fully exposed to any losses of the worse performing asset
Call option:	At par on any interest payment date
Initial levels:	2,091.58 for index, $35.37 for ETF
Barrier levels:	1,254.95 for S&P; $21.22 for ETF, 60% of initial levels
Pricing date:	April 22
Settlement date:	April 29
Agent:	Barclays
Fees:	2.35%
Cusip:	06741U6W9

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