By William Gullotti
Buffalo, N.Y., April 27 – Barclays Bank plc priced $1.02 million of buffered autocallable contingent coupon notes due April 29, 2026 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 9% annualized rate if each ETF closes at or above its 75% coupon barrier value on the related observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be called automatically at par plus the coupon if each ETF closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above 75% of initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered autocallable contingent coupon notes
|
| Underlying funds: | VanEck Vectors Gold Miners ETF, iShares Silver Trust
|
| Amount: | $1,022,000
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| Maturity: | April 29, 2026
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| Contingent coupon: | 9% annual rate, payable monthly if each ETF closes at or above coupon barrier level on related observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless an ETF finishes below buffer level, in which case 1% loss for each 1% decline of the worst performer beyond the buffer
|
| Call: | At par plus coupon if each ETF closes at or above initial level on any monthly observation date after one year
|
| Initial levels: | $33.71 for VanEck, $23.08 for iShares
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| Coupon barrier levels: | $25.28 for VanEck, $17.31 for iShares; 75% of initial levels
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| Buffer levels: | $25.28 for VanEck, $17.31 for iShares; 75% of initial levels
|
| Pricing date: | April 24
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| Settlement date: | April 27
|
| Agent: | Barclays
|
| Fees: | 2.95%
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| Cusip: | 06745M4M7
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