By Marisa Wong
Morgantown, W.Va., July 20 – Barclays Bank plc priced $614,000 of phoenix autocallable notes due Oct. 3, 2019 linked to 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 10.15% if the underlying asset closes at or above its 70% coupon barrier on the related quarterly observation date.
The notes will be called at par if the asset closes at or above its initial price on any quarterly observation date other than the final date.
The payout at maturity will be par unless the underlying asset finishes below its initial price and ever closes below its 70% knock-in price during the life of the notes, in which case investors will be exposed to any losses.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Phoenix autocallable notes
|
Underlying asset: | SPDR S&P Oil & Gas Exploration & Production ETF
|
Amount: | $614,000
|
Maturity: | Oct. 3, 2019
|
Coupon: | 10.15% annualized, payable quarterly if asset closes at or above coupon barrier on related quarterly observation date
|
Price: | Par
|
Payout at maturity: | Par unless asset finishes below initial price and ever closes below knock-in price, in which case 1% loss per 1% decline
|
Call: | At par if asset closes at or above initial price on any quarterly observation date other than the final date
|
Initial price: | $43.06
|
Coupon barrier: | $30.14, 70% of initial price
|
Knock-in price: | $30.14, 70% of initial price
|
Pricing date: | June 29
|
Settlement date: | July 5
|
Agent: | Barclays
|
Fees: | 0.675%
|
Cusip: | 06746XEN9
|
|
© 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.