By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Barclays Bank plc priced $650,000 of buffered phoenix autocallable notes due March 30, 2026 linked to the least 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 monthly coupon at an annual rate of 9.6% if each asset closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any observation date other than the final date, starting with the 12th date.
The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will be exposed to any losses of the worst performing asset beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered phoenix autocallable notes
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| Underlying assets: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $650,000
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| Maturity: | March 30, 2026
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| Coupon: | 9.6% annualized, payable monthly if each asset closes at or above 80% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset falls by more than 20%, in which case exposure to any losses of worst performing asset beyond 20%
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any observation date other than final date beginning with the 12th date
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| Initial levels: | $18.85 for Gold Miners and $43.58 for Oil & Gas
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| Coupon barriers: | $15.08 for Gold Miners and $34.86 for Oil & Gas; 80% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | Barclays
|
| Fees: | 4.25%
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| Cusip: | 06746XP31
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