By Kiku Steinfeld
Chicago, Sept. 7 – Barclays Bank plc priced $2.21 million of buffered autocallable contingent coupon notes due Aug. 29, 2024 linked to the least performing of the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of at a 6% annualized rate if the lower ETF closes at or above its 85% coupon barrier value on the related observation date.
The notes will be callable at par if the lowest ETF closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless the ETF finishes below 85% of initial level, in which case investors will lose 1% for each 1% decline beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
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| Underlying funds: | VanEck Vectors Gold Miners ETF and iShares Silver Trust
|
| Amount: | $2,214,000
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| Maturity: | Aug. 29, 2024
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| Contingent coupon: | 6% annual rate, payable monthly if the lowest ETF closes at or above coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below 85% of initial level; in which case 1% loss for each 1% decline beyond buffer
|
| Call: | At par if fund closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | $31.48 for Gold and $21.85 for Silver
|
| Coupon barrier levels: | $26.76 for Gold and $18.57 for Silver, 85% of initial levels
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| Buffer levels: | $26.76 for Gold and $18.57 for Silver, 85% of initial levels
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| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06748WBQ5
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