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Barclays plans callable contingent coupon notes on gold fund
By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – Barclays Bank plc plans to price callable contingent coupon notes due Oct. 31, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if the fund closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be callable at par on any contingent coupon payment date.
The payout at maturity will be par unless the fund finishes below its 60% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
The notes will price on Oct. 26 and settle on Oct. 31.
The Cusip number is 06741VCJ9.
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