By Kiku Steinfeld
Chicago, July 30 – Barclays Bank plc priced $1.37 million of buffered autocallable notes due July 20, 2026 linked to the least performing of the United States Oil Fund, LP and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the closing value of each reference asset is at or above 65% of its initial value on a monthly observation date, investors will receive a contingent coupon at an annual rate of 8.05% on the related contingent coupon date.
The notes will be automatically called at par plus the coupon if each underlying closes at or above its initial level on any observation date after one year.
If the return of the lesser-performing underlying is at least negative 25%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser-performing underlying beyond 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underlying funds: | United States Oil Fund, LP and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,365,000
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| Maturity: | July 20, 2026
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| Contingent coupon: | 8.05%, payable monthly each underlying closes above 65% of initial value
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| Price: | Par
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| Payout at maturity: | Par unless either underlying falls by more than 25%, in which case 1% loss per 1% decline of lesser-performing underlying beyond 25%
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| Call: | Automatically at par plus coupon if each underlying closes at or above initial level on observation date after one year
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| Initial levels: | $12.30 for US Oil and $25.96 for Oil & Gas
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| Coupon barriers: | $8.00 for US Oil and $16.87 for Oil & Gas, 65% of initial values
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| Pricing date: | July 15
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| Settlement date: | July 18
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| Agent: | Barclays
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| Fees: | 4.25%
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| Cusip: | 06747N6F6
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