Barclays plans to price phoenix autocallable notes tied to two ETFs

By Sarah Lizee

Olympia, Wash., June 14 – Barclays Bank plc plans to price phoenix autocallable notes due June 26, 2024 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 quarterly coupon at a rate of 11.9% per year if each ETF closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.

The notes will be called at par if each ETF closes at or above its initial price on any quarterly call determination date after one year.

The payout at maturity will be par unless any ETF finishes below its 60% barrier, in which case investors will lose 1% for each 1% decline of the worst performing ETF.

Barclays is the agent.

The notes will price on June 21.

The Cusip number is 06747MZN9.

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