Published on 2/12/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million buffered autocallable notes on gold, silver ETFs
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Barclays Bank plc priced $1 million of buffered autocallable notes due Feb. 13, 2026 linked to the least performing of the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon of 6.25% per year if each asset closes at or above its coupon barrier, 80% of its initial level, on the related observation date.
The notes will be called at par if each asset closes at or above its initial level on any monthly call valuation date after one year.
The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered autocallable notes
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| Underliers: | iShares Silver Trust and VanEck Vectors Gold Miners ETF
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| Amount: | $1 million
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| Maturity: | Feb. 13, 2026
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| Coupon: | 6.25% per year, payable monthly if each underlier closes at or above coupon barrier on determination date
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| Price: | Par
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| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 20%
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| Call: | After one year, automatically at par if each underlier closes at or above initial level on any monthly determination date
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| Initial levels: | $16.61 for Silver, $28.39 for Gold
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| Coupon barriers: | $13.29 for Silver, $22.71 for Gold; 80% of initial levels
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| Buffer levels: | $13.29 for Silver, $22.71 for Gold; 80% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 13
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| Agent: | Barclays
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| Fees: | 2.15%
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| Cusip: | 06747PBV0
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