New Issue: Barclays prices $1.21 million phoenix autocallable notes tied to three stocks

By William Gullotti

Buffalo, N.Y., April 15 – Barclays Bank plc priced $1.21 million of phoenix autocallable notes due July 11, 2025 linked to the least performing of the stocks of Berkshire Hathaway Inc., Costco Wholesale Corp. and Charles Schwab Corp., according to a 424B2 filing with Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 10.25% if each stock closes at or above its 70% coupon barrier on a related observation date.

The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any monthly call observation date after three months.

If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon barrier but at or above its 65% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stocks:	Berkshire Hathaway Inc., Costco Wholesale Corp., Charles Schwab Corp.
Amount:	$1,214,000
Maturity:	July 11, 2025
Coupon:	10.25% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	If each stock finishes at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, lose 1% for every 1% decline of the worst performer from initial level
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any monthly observation date after three months
Initial levels:	$415.97 for Berkshire Hathaway, $711.81 for Costco, $72.37 for Schwab
Coupon barriers:	$291.18 for Berkshire Hathaway, $498.27 for Costco, $50.66 for Schwab; 70% of initial levels
Final barriers:	$270.38 for Berkshire Hathaway, $462.68 for Costco, $47.04 for Schwab; 65% of initial levels
Pricing date:	April 8
Settlement date:	April 11
Agent:	Barclays
Fees:	2.4%
Cusip:	06745QJ83

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