New Issue: Barclays sells $254,000 autocallable 7% fixed coupon notes on S&P, Russell

By Kiku Steinfeld

Chicago, April 8 – Barclays Bank plc priced $254,000 of autocallable fixed-coupon notes due June 12, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annual rate of 7%.

The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly call date after six months.

If the notes are not called and each index finishes at or above 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Barclay is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable fixed-coupon notes
Underlying index:	Russell 2000, S&P 500
Amount:	$254,000
Maturity:	June 12, 2026
Coupon:	7% annually, paid monthly
Price:	Par
Payout at maturity:	Par if both indexes close above its barrier level; otherwise, full exposure to losses of worst performer
Call:	At par plus coupon if each index closes at or above initial level on any monthly call date after six months
Initial levels:	1,872.907 for Russell, 4,446.82 for S&P
Barrier levels:	1,123.74 for Russell, 2,668.09 for S&P; 60% of initial levels
Pricing date:	July 5, 2023
Settlement date:	July 10, 2023
Agent:	Barclays
Fees:	0.65%
Cusip:	06745MLZ9

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