GBP Oil Majors Autocall Note

This GBP note has a maximum maturity of 5 years and pays a potential return of 20% per annum. The note is based on the oil majors: BP, Total, Exxon Mobil and Royal Dutch Shell.

The note is callable every 3 months if all basket members are above their intitial strike prices. When called, the note will pay 5% for each quarter of the notes existence. The note will not pay income or coupons until called.

Capital is only at risk if after 5 years the product has not redeemed early (autocalled) and the worst performing basket member has fallen by 40% or more.

The note is issued by an A rated bank.