Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SPDR S&P Oil & Gas Exploration & Production exchange-traded fund > News item |
Barclays plans callable contingent coupon notes on S&P 500, oil ETF
By Marisa Wong
Morgantown, W.Va., Jan. 9 – Barclays Bank plc plans to price callable contingent coupon notes due in Jan. 24, 2020 linked to the lesser performing of 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 will pay a contingent quarterly coupon at an annual rate of 10.5% to 11.5% per year if each underlying closes at or above its coupon barrier level, 60% of its initial level, on a quarterly observation date. The exact coupon will be determined at pricing.
The notes are callable in whole but not in part on any contingent coupon payment date.
The payout at maturity will be par plus the final contingent coupon unless either underlying finishes below its 60% barrier level, in which investors will lose 1% for each 1% decline of the worst performing asset.
Barclays is the agent.
The notes will price on Jan. 20.
The Cusip number is 06741VGK2.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.