Barclays plans callable contingent coupon notes tied to Gold Miners

By Wendy Van Sickle

Columbus, Ohio, Dec. 9 – Barclays Bank plc plans to price callable contingent coupon notes due Dec. 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 coupon barrier level, 60% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.

The notes will be callable at par on any contingent coupon payment date beginning with the interest payment date following the second observation date in June 2017.

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 Dec. 27 and settle on Dec. 31.

The Cusip number is 06741VEZ1.

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