By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Barclays Bank plc priced $228,000 of phoenix autocallable notes due March 31, 2021 linked to the lesser performing of the VanEck Vectors Gold Miners exchange-traded fund and SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 10% per year if each ETF closes at or above its coupon barrier price, 55% 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 observation date after six months.
The payout at maturity will be par unless either ETF finishes below its initial level and either ETF ever closes below its 55% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing ETF.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Biotech ETF
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| Amount: | $228,000
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| Maturity: | March 31, 2021
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| Coupon: | 10% payable quarterly if each ETF closes at or above its coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless either ETF finishes below initial level and either ETF ever closes below knock-in price, in which case investors will lose 1% for each 1% decline of worst performer
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| Call: | At par if each ETF closes at or above its initial price on any quarterly call observation date after six months
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| Initial prices: | $28.43 for gold ETF, $79.28 for biotech ETF
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| Coupon barriers: | $15.64 for gold ETF, $43.60 for biotech ETF; 55% of initial prices
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| Knock-in prices: | $15.64 for gold ETF, $43.60 for biotech ETF; 55% of initial prices
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Barclays
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| Fees: | 2.175%
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| Cusip: | 06327NFL3
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