Barclays plans phoenix autocallables due 2019 tied to SPDR S&P Oil

By Susanna Moon

Chicago, Nov. 8 – Barclays Bank plc plans to price phoenix autocallable notes due May 31, 2019 linked to 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 contingent quarterly coupon at an annual rate of 8.5% to 9.5% if the fund closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any observation date other than the final date beginning with the second observation date.

The payout at maturity will be par unless the fund finishes below its initial level and ever closes below its 70% barrier level during the life of the notes, in which case investors will be fully exposed to any losses.

Barclays is the agent.

The notes will price on Nov. 30.

The Cusip number is 06744CH95.

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