Barclays plans 9.3% buffered phoenix autocalls tied to oil, gold ETFs

By Sarah Lizee

Olympia, Wash., Sept. 7 – Barclays Bank plc plans to price buffered phoenix autocallable notes due March 30, 2026 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9.3% if each underlying asset closes at or above its 80% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date other than the final date beginning with the 12th date.

The payout at maturity will be par unless either underlying asset falls by more than 20%, in which case investors will be exposed to any losses of the worse performing fund beyond the 20% buffer.

Barclays is the agent.

The notes will price on Sept. 25 and settle on Sept. 28.

The Cusip number is 06746XP31.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.