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Barclays plans contingent coupon notes on S&P 500, SPDR oil & gas
New York, Nov. 2 – Barclays Bank plc plans to price callable contingent coupon notes due Nov. 26, 2018 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 pay a semi-annual coupon at an annualized rate of 11% to 12% if each underlier closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period. The precise coupon will be set at pricing.
The notes are callable at par on any contingent coupon payment date.
If each underlier finishes at or above its 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing asset.
Barclays is the agent.
The notes will price on Nov. 20 and settle on Nov. 30.
The Cusip number is 06741UR71.
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