By Kiku Steinfeld
Chicago, Aug. 6 – Barclays Bank plc priced $740,000 of phoenix autocallable notes due July 21, 2022 linked to the lesser performing of the VanEck Vectors Gold Miners exchange-traded fund and iShares China large-cap 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 7.7% per year if each ETF closes at or above its coupon barrier price, 60% 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 any ETF finishes below its 60% barrier, 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 and iShares China Large-Cap ETF
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Amount: | $740,000
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Maturity: | July 21, 2022
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Coupon: | 7.7% 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 any ETF finishes below its barrier 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: | $26.05 for gold ETF, $42.18 for China ETF
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Coupon barriers: | $15.63 for Gold Miners ETF, $25.31 for China ETF; 60% of initial prices
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Barrier prices: | $15.63 for Gold Miners ETF, $25.31 for China ETF; 60% of initial prices
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Pricing date: | July 16
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Settlement date: | July 19
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Agent: | Barclays
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Fees: | 2%
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Cusip: | 06747N6N9
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