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Barclays plans four-year annual autocallables tied to S&P, oil fund
By Susanna Moon
Chicago, July 30 – Barclays Bank plc plans to price annual autocallable notes due Aug. 29, 2022 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 be called at par plus an annual call premium of 10% if each asset closes at or above its initial level on any of the first three call valuation dates.
If the notes are not called, the payout at maturity will be par unless either underlying asset closes below its 70% barrier level, in which case investors will be exposed to any losses of the worse performing index or fund.
Barclays is the agent.
The notes will price on Aug. 24 and settle on Aug. 31.
The Cusip number is 06746XKD4.
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