Barclays plans callable contingent payment notes linked to Gold Miners

By Angela McDaniels

Tacoma, Wash., July 8 – Barclays Bank plc plans to price callable contingent payment notes due July 31, 2019 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 7% if the ETF’s closing share price is greater than or equal to the coupon barrier level, 75% of the initial share price, on the valuation date for that quarter.

The payout at maturity will be par unless the ETF’s final share price is less than the barrier price, 70% of the initial share price, in which case investors will be fully exposed to the ETF’s decline from its initial share price.

Beginning a year after issuance, the notes will be callable at par on any interest payment date.

Barclays is the agent.

The notes will price July 28 and settle July 31.

The Cusip number is 06741UFR0.

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