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Barclays plans autocallable contingent coupon notes on ETFs
By Sarah Lizee
Olympia, Wash., Aug. 24 – Barclays Bank plc plans to price autocallable contingent coupon notes due Aug. 30, 2024 linked to the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 9.25% per annum if each ETF closes at or above its 70% coupon barrier level on the determination date for that month.
The notes will be automatically called at par plus the contingent coupon if each ETF closes at or above its initial level on any determination date after one year other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon unless any ETF finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing ETF.
Barclays is the agent.
The notes will price on Aug. 26.
The Cusip number is 06747QET0.
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