Barclays plans 8%–9% phoenix autocalls due 2019 tied to oil fund

By Susanna Moon

Chicago, Aug. 7 – Barclays Bank plc plans to price phoenix autocallable notes due Nov. 29, 2019 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 contingent quarterly coupon at an annual rate of 8% to 9% if the underlying asset 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 asset closes at or above its initial level on any call valuation date other than the final date beginning with the second date.

The payout at maturity will be par unless the underlying asset ever closes below its 70% knock-in level during the life of the notes, in which case investors will be exposed to any losses.

Barclays is the agent.

The notes will price on Aug. 28.

The Cusip number is 06746XLK7.

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