Barclays plans four-year annual autocallables tied to S&P, oil fund

By Susanna Moon

Chicago, June 5 – Barclays Bank plc plans to price annual autocallable notes due June 27, 2022 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 10% if each asset closes at or above its initial level on any annual call valuation date.

If the notes are not called, the payout at maturity will be par plus 40% unless either underlying asset finishes below its 70% barrier level, in which case investors will be exposed to any losses of the worse performing asset.

Barclays is the agent.

The notes will price on June 22 and settle on June 29.

The Cusip number is 06746XD83.

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