By Susanna Moon
Chicago, Aug. 10 – Barclays Bank plc priced $2 million of callable contingent coupon notes due May 7, 2021 linked to the least performing of the VanEck Vectors Gold Miners exchange-traded fund and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 11.5% if each index closes at or above its 60% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Feb. 12, 2018.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Callable contingent coupon notes
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| Underlying funds: | VanEck Vectors Gold Miners ETF and the SPDR S&P Biotech ETF
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| Amount: | $2 million
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| Maturity: | May 7, 2021
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| Contingent coupon: | 11.5% per year, payable semiannually if each index closes at or above 60% coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index falls below 60% barrier, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par plus any coupon on any contingent coupon payment date
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| Initial levels: | $22.32 for gold fund, $78.23 for biotech fund
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| Barrier levels: | $13.39 for gold fund, $46.94 for biotech fund; 60% of initial levels
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 9
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| Agent: | Barclays
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| Fees: | 2.95%
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| Cusip: | 06744CFB2
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