By Sarah Lizee
Olympia, Wash., Feb. 25 – Barclays Bank plc priced $1 million of buffered phoenix autocallable notes due Feb. 26, 2024 linked to the least performing of the S&P 500 index and the VanEck Vectors Gold Miners 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 11% if each asset closes at or above its 85% coupon barrier on the observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless either asset falls by more than 15%, in which case investors will lose 1% for each 1% loss of the worst performing asset beyond 15%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered phoenix autocallable notes
|
| Underlying assets: | S&P 500 index and VanEck Vectors Gold Miners ETF
|
| Amount: | $1 million
|
| Maturity: | Feb. 26, 2024
|
| Coupon: | 11% annualized, payable monthly if each asset closes at or above 85% coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset falls by more than 15%, in which case 1% loss for each 1% loss of the worst performing asset beyond 15%
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date after one year
|
| Initial levels: | $22.98 for ETF and 2,774.88 for index
|
| Coupon barriers: | $19.53 for ETF and 2,358.65 for index; 85% of initial levels
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Agent: | Barclays
|
| Fees: | 3.75%
|
| Cusip: | 06747MES1
|
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