New Issue: Barclays prices $1.3 million 10% callable notes linked to tech fund, S&P, Russell

By Angela McDaniels

Tacoma, Wash., April 30 – Barclays Bank plc priced $1.3 million of 10% callable fixed coupon notes due July 22, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

Beginning Oct. 16, 2023, the notes are callable at par monthly.

The payout at maturity will be par unless the least performing asset finishes below its barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset declines from its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable fixed coupon notes
Underlying assets:	S&P 500 index, Russell 2000 index and Technology Select Sector SPDR fund
Amount:	$1.3 million
Maturity:	July 22, 2024
Coupon:	10% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless least performing asset finishes below barrier level, in which case 1% loss for every 1% that least performing asset declines from initial level
Call option:	Beginning Oct. 16, 2023, at par monthly
Initial levels:	4,522.79 for S&P, 1,951.269 for Russell and $178.24 for fund
Barrier levels:	3,165.95 for S&P, 1,365.89 for Russell and $124.77 for fund, or 70% of initial levels
Pricing date:	July 17, 2023
Settlement date:	July 20, 2023
Agent:	Barclays
Fees:	0.5%
Cusip:	06745MSA7

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