By Susanna Moon
Chicago, April 20 – Barclays Bank plc priced $800,000 of phoenix autocallable notes due April 17, 2018 linked to the lesser performing of the SPDR S&P Regional Banking exchange-traded fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if each fund closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any quarterly determination date other than the final date beginning with the second observation date.
The payout at maturity will be par unless either fund finishes below its initial level and ever closes below its 60% knock-in level during the life of the notes, in which case investors will lose 1% for each 1% decline of the worse performing fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying funds: | SPDR S&P Regional Banking ETF and the VanEck Vectors Gold Miners ETF
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| Amount: | $800,000
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| Maturity: | April 17, 2018
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| Coupon: | 11%, payable quarterly if each fund closes at or above its coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either fund falls and ever dips below knock-in barrier, in which case investors will lose 1% for each 1% decline of worse performer
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| Call: | At par if each fund closes at or above its initial level on any quarterly determination date from
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| Initial levels: | $52.83 for banking fund, $24.57 for gold fund
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| Coupon barriers: | $36.98 for banking fund, $17.20 for gold fund; 70% of initial levels
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| Knock-in levels: | $31.70 for banking fund, $14.74 for gold fund; 60% of initial levels
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| Pricing date: | April 12
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| Settlement date: | April 18
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| Agent: | Barclays
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| Fees: | 2.325%
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| Cusip: | 06741VRZ7
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