By Marisa Wong
Morgantown, W.Va., Feb. 6 – Barclays Bank plc priced $1.19 million of phoenix autocallable notes due Jan. 31, 2018 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above its barrier price, 60% of its initial price, on a quarterly observation date, the notes will pay a contingent coupon that quarter at an annual rate of 9.25%.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on the second or third observation dates.
The payout at maturity will be par plus the contingent coupon unless the fund finishes below its initial price and closes below its 60% barrier price on any day during the life of the notes, in which case investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,188,000
|
| Maturity: | Jan. 31, 2018
|
| Coupon: | 9.25% per year, payable each quarter that fund closes at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the fund finishes below its initial price and closes below its 60% barrier price on any day during the life of the notes, in which case full exposure to any losses
|
| Call: | At par plus contingent coupon if fund closes at or above its initial price on second or third observation dates
|
| Initial price: | $22.87
|
| Barrier price: | $13.72, 60% of initial price
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06741VGQ9
|
|
|
© 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.
