New Issue: Barclays sells $3.59 million 10.25% contingent coupon callables on S&P, oil fund

By Susanna Moon

Chicago, July 25 – Barclays Bank plc priced $3.59 million of callable contingent coupon notes due July 23, 2021 linked to the least performing of the S&P 500 index 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 10.25% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that period.

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

The payout at maturity will be par unless either underlying asset closes below its 65% trigger level, in which case investors will be exposed to any losses of the worse performing index or fund.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying assets:	S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$3,586,000
Maturity:	July 23, 2021
Coupon:	10.25% annualized, payable semiannually if each index closes at or above its 65% coupon barrier on observation date for that period
Price:	Par
Payout at maturity:	Par unless either asset falls by more than 35%, in which case 1% loss per 1% decline of worse performing index or fund
Call option:	At par on any interest payment date beginning in January 2019
Initial levels:	2,801.83 for S&P and $42.50 for oil fund
Trigger levels:	1,821.19 for S&P and $27.63 for oil fund, 65% of initial levels
Pricing date:	July 20
Settlement date:	July 27
Agent:	Barclays
Fees:	0.8%
Cusip:	06746XHD8

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