New Issue: Barclays sells $2 million 14% contingent coupon callables tied to biotech, oil funds

By Susanna Moon

Chicago, Jan. 28 – Barclays Bank plc priced $2 million of callable contingent coupon notes due Jan. 21, 2022 linked to the least performing of the SPDR S&P Biotech ETF and 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 semiannual coupon at an annual rate of 14% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that period.

The notes are callable at par on any interest payment date.

The payout at maturity will be par unless either underlying asset closes below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing fund.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying assets:	SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$2,001,000
Maturity:	Jan. 21, 2022
Coupon:	14% annualized, payable semiannually if each index closes at or above its 60% coupon barrier on observation date for that period
Price:	Par
Payout at maturity:	Par unless either asset falls by more than 40%, in which case 1% loss per 1% decline of worse performing fund
Call option:	At par on any interest payment date
Initial levels:	$83.38 for biotech fund and $31.61 for oil fund
Trigger levels:	$50.03 for biotech fund and $18.97 for oil fund, 60% of initial levels
Pricing date:	Jan. 18
Settlement date:	Jan. 25
Agent:	Barclays
Fees:	0.4%
Cusip:	06741WEN6

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