By William Gullotti
Buffalo, N.Y., Aug. 18 – Barclays Bank plc priced $1.59 million of phoenix autocallable notes due Aug. 16, 2028 linked to the performance of the VanEck Gold Miners ETF, according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if the ETF closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the ETF closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and the ETF finishes at or above the coupon barrier, the payout at maturity will be par plus the final coupon.
If the ETF finishes below its coupon barrier but at or above its final barrier, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying fund: | VanEck Gold Miners ETF
|
| Amount: | $1.59 million
|
| Maturity: | Aug. 16, 2028
|
| Coupon: | 10% annualized, payable monthly if ETF closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if ETF finishes at or above coupon barrier; if ETF declines from coupon barrier but finishes at or above final barrier, par; otherwise, full exposure to decline from initial level
|
| Call: | At par plus contingent coupon if underlying ETF closes at or above initial level on any quarterly call observation date after one year
|
| Initial level: | $29.46
|
| Coupon barrier: | $20.62; 70% of initial level
|
| Final barrier: | $17.68; 60% of initial level
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 16
|
| Agent: | Barclays
|
| Fees: | 3.65%
|
| Cusip: | 06745N4H6
|
|
|
© 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.
