Barclays plans to price phoenix autocallables on Gold Miners ETF

By Tali Rackner

Minneapolis, Oct. 25 – Barclays Bank plc plans to price phoenix autocallable notes due Jan. 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 between 8% and 9%% if the fund closes at or above its coupon barrier level, 70% of its initial level, on each quarterly observation date. The exact coupon rate will be set at pricing.

The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on the second, third or fourth observation dates.

The payout at maturity will be par unless the fund finishes negative or if it has closed below its 70% knock-in level on any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the fund from its initial level.

Barclays is the agent.

The notes will price on Oct. 26 and settle on Oct. 31.

The Cusip number is 06744C5C1.

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