New Issue: Barclays prices $1.43 million phoenix autocallable notes on indexes, ETF

By William Gullotti

Buffalo, N.Y., April 29 – Barclays Bank plc priced $1.43 million of phoenix autocallable notes due April 28, 2027 linked to the least performing of the Utilities Select Sector SPDR Fund, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.9% if each underlier closes at or above its 80% coupon barrier on a related observation date.

The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly call observation date after six months.

The payout at maturity will be par plus the final coupon if each underlier finishes at or above its coupon barrier.

If the worst performer finishes below its coupon barrier but at or above 65% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying assets:	Utilities Select Sector SPDR Fund, Russell 2000 index, Nasdaq-100 index
Amount:	$1,426,000
Maturity:	April 28, 2027
Coupon:	9.9% annualized, payable quarterly if each underlier closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par plus final coupon if each underlier finishes at or above its coupon barrier; if worst performer finishes below its coupon barrier but at or above its final barrier, par; otherwise, 1% loss for each 1% decline of the worst performer from initial level
Call:	Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly call observation date after six months
Initial levels:	17,471.47 for Nasdaq, 2,002.643 for Russell, $66.34 for ETF
Coupon barriers:	11,908.29 for Nasdaq, 3,384.78 for Russell, $51.67 for ETF; 80% of initial levels
Final barriers:	11,114.4 for Nasdaq, 3,159.13 for Russell, $48.22 for ETF; 65% of initial levels
Pricing date:	April 23
Settlement date:	April 26
Agent:	Barclays
Fees:	3%
Cusip:	06745QLT4

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