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Published on 9/12/2023 in the Prospect News Structured Products Daily.

New Issue: Barclays prices $1.36 million buffered autocallable notes tied to three stocks

Chicago, Sept. 12 – Barclays Bank plc priced $1.36 million of 0% buffered autocallable notes due Sept. 11, 2026 linked to the least performing of the common stocks of Devon Energy Corp., Coterra Energy Inc. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a 14.9% annual rate call premium if each stock closes at or above its call barrier on any annual call valuation date. The annual call barriers are 90% in 2024, 80% in 2025 and 60% in 2026.

If the notes have not been called because the worst performing stock closes below its 60% buffer value, investors will be exposed to the losses of the worst performing stock beyond the 40% buffer.

Barclays is the agent.

Issuer:Barclays Bank plc
Issue:Buffered autocallable notes
Underlying stocks:Devon Energy Corp., Coterra Energy Inc. and Target Corp.
Amount:$1,355,000
Maturity:Sept. 11, 2026
Coupon:0%
Price:Par
Payout at maturity:Par plus 44.7% if each stock closes above 60% call barrier; otherwise, 1% loss for each 1% decline beyond 40% buffer
Call:Automatically at par plus 14.9% annual rate call premium if all three stocks close above call barriers on annual call valuation dates; annual call barriers are 90% in 2024, 80% in 2025 and 60% in 2026
Initial levels:$53.49 for Devon, $28.07 for Coterra, $123.71 for Target
Buffer levels:$32.09 for Devon, $16.84 for Coterra, $74.23 for Target; 60% of initial levels
Pricing date:Sept. 6
Settlement date:Sept. 11
Agent:Barclays
Fees:0.75%
Cusip:06745NDT0

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