Published on 6/17/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.35 million buffered autocallable notes tied to two oil funds
By Wendy Van Sickle
Columbus, Ohio, June 17 – Barclays Bank plc priced $3.35 million of buffered autocallable notes due June 17, 2021 linked to the least performing of the United States Oil Fund, LP 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 monthly contingent coupon of 10.75% per year if each asset closes at or above its coupon barrier, 75% of its initial level, on the related observation date.
The notes will be called at par if each asset closes at or above its initial level on any monthly call valuation date after six months.
The payout at maturity will be par unless either asset falls by more than 25%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable notes
|
| Underliers: | SPDR S&P Oil & Gas Exploration & Production ETF and United States Oil Fund, LP
|
| Amount: | $3,346,000
|
| Maturity: | June 17, 2021
|
| Coupon: | 10.75% per year, payable monthly if each underlier closes at or above coupon barrier on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 25%
|
| Call: | After six months, automatically at par if each underlier closes at or above initial level on any monthly determination date
|
| Initial levels: | $24.86 for SPDR S&P Oil & Gas, $10.64 for United States Oil
|
| Coupon barriers: | $18.65 SPDR S&P for Oil & Gas, $7.98 for United States Oil; 75% of initial levels
|
| Buffer levels: | $18.65 SPDR S&P for Oil & Gas, $7.98 for United States Oil; 75% of initial levels
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agent: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06747MZJ8
|
|
|
© 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.
