Chicago, Dec. 28 – Barclays Bank plc priced $587,000 of phoenix autocallable notes due Nov. 30, 2020 linked to the lesser 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.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its coupon barrier level, 55% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning in May 2019.
If the notes are not called, the payout at maturity will be par plus the final contingent coupon if both funds close above their initial level or the worse performing fund is less than its initial level and neither fund closed below 55% of their initial value during the life of the notes.
If the worse performing fund is less than its initial value and either fund closed below 55% of their initial value during the life of the notes, the payout will be the asset return of the lesser performing fund.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
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| Underlying funds: | VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $587,000
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| Maturity: | Nov. 30, 2020
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| Coupon: | 10% per year payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final contingent coupon if both funds gained or if neither fund closes below 55% of its initial level during the life of the notes, otherwise the asset return of the lesser performing fund
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date beginning May 2019
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| Initial index levels: | $19.09 for Gold Miners ETF and $32.81 for Oil & Gas ETF
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| Coupon barrier levels: | $10.50 for Gold Miners ETF and $18.05 for Oil & Gas ETF; 55% of initial levels
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| Final barrier levels: | $10.50 for Gold Miners ETF and $18.05 for Oil & Gas ETF; 55% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agent: | Barclays
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| Fees: | 0.8%
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| Cusip: | 06746XWF6
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