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Barclays plans to price phoenix autocallables tied to gold, oil ETFs
By Sarah Lizee
Olympia, Wash., May 8 – Barclays Bank plc plans to price phoenix autocallable notes due May 31, 2024 linked to the lesser performing of the VanEck Vectors Gold Miners ETF 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 contingent quarterly coupon at an annual rate of 9.5% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that period.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly observation date other than the final date after six months.
The payout at maturity will be par unless either underlying asset finishes below its 60% barrier level, in which case investors will be exposed to any losses of the worse performing asset.
Barclays is the agent.
The notes will price on May 28.
The Cusip number is 06747MRK4.
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