The symbol, more recently known as a "swastika", is derived from an ancient Germanic runic symbol called the "sun wheel". It is composed of two 'sigrunes' turned 90 degrees of each other. Like many ancient symbols it is believed to contain power or have potential for a power or force. The sun wheel actually rotated clockwise for - shall we say - good fortune, which is actually opposite of the traditional swastika. Notice the trailing ends of the swastika 'flare' out to the right thus showing a counter-clockwise rotation. When the sun wheel is used in this configuration it can evoke strong power quickly, but ultimately will end in destruction. Clockwise is "light", counter-clockwise is "darkness". The Nazis' used many runic symbols in their pagan power quest to 'reconnect' the German people to their Teutonic origins. Prior to WWII you will find the swastika rotating clockwise on tokens, etc. as a symbol or talisman for 'good fortune'. As for the bracelet, further research into the other patterns on it may give you more clues as to its age and origin - be it modern or vintage.