Published on 6/17/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.44 million phoenix autocallable notes on Metals, Gold Miners ETFs
By Wendy Van Sickle
Columbus, Ohio, June 17 – Barclays Bank plc priced $6.44 million of phoenix autocallable notes due Feb. 26, 2024 linked to the least performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.75% if each ETF closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par unless any ETF finishes below 60% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing ETF.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying ETFs: | SPDR S&P Metals & Mining ETF, VanEck Vectors Gold Miners ETF
|
| Amount: | $6.44 million
|
| Maturity: | Feb. 26, 2024
|
| Coupon: | 7.75% annualized, payable monthly if each ETF closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing ETF
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly call observation date after six months
|
| Initial levels: | $44.56 for Metals, $39.29 for Gold Miners
|
| Coupon barriers: | $31.19 for Metals, $27.50 for Gold Miners; 70% of initial levels
|
| Final barriers: | $26.74 for Metals, $23.57 Gold Miners; 60% of initial levels
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06748EQG1
|
|
|
|
|
© 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.
