New Issue: Barclays prices $1.58 million autocallable contingent coupon notes linked to indexes

By Angela McDaniels

Tacoma, Wash., April 30 – Barclays Bank plc priced $1.58 million of autocallable contingent coupon notes due Oct. 22, 2024 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 7% if each index closes at or above its coupon barrier level, 75% of its initial level, on the valuation date for that period.

The notes will be automatically called at par if each index closes at or above its call level, 96% of its initial level, on any quarterly observation date.

The payout at maturity will be par unless any index closes below its barrier level, 70% of its initial level, during the life of the notes and the least performing index finishes below its initial level, in which case investors will be fully exposed to the least performing index’s decline from its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable contingent coupon notes
Underlying indexes:	S&P 500 index, the Russell 2000 index and the Nasdaq-100 index
Amount:	$1,577,000
Maturity:	Oct. 22, 2024
Coupon:	7% per year, payable quarterly if each index closes at or above its coupon barrier level on the valuation date for that period
Price:	Par
Payout at maturity:	Par unless any index closes below its barrier level during the life of the notes and the least performing index finishes below its initial level, in which case full exposure to the least performing index’s decline from its initial level
Call:	Automatically at par if each index closes at or above its call level on any quarterly observation date
Initial levels:	4,522.79 for S&P, 1,951.269 for Russell and 15,713.28 for Nasdaq
Call levels:	4,341.88 for S&P, 1,873.22 for Russell and 15,084.75 for Nasdaq, or 96% of initial levels
Coupon barrier levels:	3,392.09 for S&P, 1,463.45 for Russell and 11,784.96 for Nasdaq, or 75% of initial levels
Barrier levels:	3,165.95 for S&P, 1,365.89 for Russell and 10,999.30 for Nasdaq, or 70% of initial levels
Pricing date:	July 17, 2023
Settlement date:	July 20, 2023
Agent:	Barclays
Fees:	2.375%
Cusip:	06745MSC3

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