By Susanna Moon
Chicago, Nov. 21 – Barclays Bank plc priced $1.94 million callable contingent coupon notes due Nov. 25, 2016 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at an annualized rate of 14% for each quarter that the fund closes above the 70% coupon barrier level on a quarterly valuation date.
The notes are callable in whole at par on any contingent coupon payment date.
The payout at maturity will be par unless the fund finishes below the 70% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying fund: | Market Vectors Gold Miners
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| Amount: | $1.94 million
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| Maturity: | Nov. 25, 2016
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| Coupon: | 14% per year, payable quarterly if fund closes at or above barrier price on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par if fund finishes at greater than or equal to barrier price; otherwise, exposure to decline
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| Call option: | At par on any contingent coupon payment date
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| Initial share price: | $19.18
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| Barrier level: | $13.43, 70% of initial share price
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 24
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| Agent: | Barclays
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| Fees: | 1.75%
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| Cusip: | 06741UMA9
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