By Susanna Moon
Chicago, March 3 – Barclays Bank plc priced $600,000 of phoenix autocallable notes due Feb. 28, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 11.3% if the fund closes at or above the coupon barrier – 70% of the initial price – on the observation date for that month.
The notes will be called at par plus the contingent coupon if the fund closes at or above the initial price on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the fund finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying fund: | VanEck Vectors Gold Miners ETF
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| Amount: | $600,000
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| Maturity: | Feb. 28, 2019
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| Coupon: | 11.3%, payable monthly if fund closes at or above 70% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless fund finishes below barrier level, in which case 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if fund closes at or above initial price on any observation date other than the final date
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| Initial level: | $24.37
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| Barrier level: | $17.06, 70% of initial level
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| Pricing date: | Feb. 24
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| Settlement date: | March 1
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| Agent: | Barclays
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| Fees: | 2.5%
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| Cusip: | 06741VLG5
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