Published on 1/23/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $978,000 autocallable notes tied to two ETFs
By Wendy Van Sickle
Columbus, Ohio, Jan. 23 – Barclays Bank plc priced $978,000 of 0% autocallable notes due Jan. 21, 2022 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 be automatically called at par plus an annualized call premium of 11.5% if each underlying closes at or above its initial level on any quarterly call valuation date.
If the notes are not called and the final level of the least-performing underlying is at least 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable notes
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $978,000
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| Maturity: | Jan. 21, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the final level of the least-performing underlying is at least 60% of its initial level, par; otherwise, 1% loss for each 1% decline of the least-performing underlying from its initial level
|
| Call: | At par plus an annualized call premium of 11.5% if each underlying closes at or above its initial level on any quarterly call valuation date
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| Initial levels: | $28.42 for Gold Miners, $22.37 for oil ETF
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| Barrier levels: | $17.05 for Gold Miners, 13.42 for oil ETF, 60% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 23
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| Agent: | Barclays
|
| Fees: | 2.1%
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| Cusip: | 06747P2E8
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