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Published on 5/27/2020 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $1 million phoenix autocallables linked to Amazon.com

Chicago, May 27 – Barclays Bank plc priced $1 million phoenix autocallable notes due Nov. 23, 2021 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the stock closes at or above its 65% coupon barrier on the related quarterly observation date.

The notes will be called automatically at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly call valuation date after six months.

The payout at maturity will be par unless the stock finishes below its 65% barrier price, in which case investors will lose 1% for each 1% decline below the initial price.

Barclays is the agent.

Issuer:Barclays Bank plc
Issue:Phoenix autocallable notes
Underlying stock:Amazon.com, Inc. (Nasdaq: AMZN)
Amount:$1 million
Maturity:Nov. 23, 2021
Coupon:7.5%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
Price:Par
Payout at maturity:Par if Amazon.com shares finish at or above barrier price; otherwise, par plus stock return
Call:Automatically at par plus contingent coupon if Amazon.com shares close at or above initial price on a quarterly observation date after six months
Initial share price:$2,449.33
Coupon barrier/barrier:$1,592.06, 65% of initial price
Pricing date:May 19
Settlement date:May 22
Underwriters:Barclays
Fees:None
Cusip:06747PUN7

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