Barclays to price phoenix autocallables linked to gold miners ETF

By Angela McDaniels

Tacoma, Wash., Feb. 21 – Barclays Bank plc plans to price phoenix autocallable notes due Feb. 28, 2018 linked to the VanEck 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 if the ETF closes at or above the barrier price, 60% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter. The contingent coupon rate is expected to be 9% to 10% per year and will be set at pricing.

The notes will be automatically called at par if the ETF closes at or above the initial share price on Aug. 23, 2017 or Nov. 24, 2017.

If the notes are not called, the payout at maturity will be par unless the ETF closes below the barrier price on any day during the life of the notes and the final share price is less than the initial share price, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

Barclays is the agent.

The notes will price Feb. 23.

The Cusip number is 06741VJW3.

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