Barclays plans callable contingent coupon notes on gold, biotech ETFs

By Marisa Wong

Morgantown, W.Va., Aug. 1 – Barclays Bank plc plans to price callable contingent coupon notes due May 7, 2021 linked to the least performing of the VanEck Vectors Gold Miners exchange-traded fund and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at a rate of 11.5% to 12.5% per year if each ETF closes at or above its coupon barrier, 60% of its initial level, on the review date for that quarter.

The notes will be callable at par on any contingent coupon payment date.

The payout at maturity will be par plus the final coupon unless either ETF finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing ETF.

Barclays is the agent.

The notes are expected to price on Aug. 4.

The Cusip number is 06744CFB2.

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