By Susanna Moon
Chicago, Oct. 19 – Barclays Bank plc priced $2.5 million of phoenix autocallable notes due Oct. 18, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the fund closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any observation date beginning in November.
The payout at maturity will be par plus the contingent coupon unless the fund finishes below its 60% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $2.5 million
|
| Maturity: | Oct. 18, 2019
|
| Coupon: | 10% per year, payable each quarter that fund closes at or above its barrier level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the contingent coupon unless fund finishes below its barrier level, in which case investors will be fully exposed to any losses
|
| Call: | At par plus the contingent coupon if fund closes at or above its initial level on any observation date beginning in November
|
| Initial level: | $23.34
|
| Barrier level: | $14.00, 60% of initial level
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 20
|
| Agent: | Barclays
|
| Fees: | 3.5%
|
| Cusip: | 06741VD74
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
