New Issue: Barclays sells $85,000 contingent barrier enhanced notes on S&P 500

By Marisa Wong

Los Angeles, April 20 – Barclays Bank plc priced $85,000 of 0% contingent barrier return enhanced notes due April 13, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus 1.26 times the index return.

If the final index level is less than or equal to the initial index level but greater than or equal to the barrier value, 80% of the initial index level, the payout will be par.

If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.

Barclays is the agent, and J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.

Issuer:	Barclays Bank plc
Issue:	Contingent barrier return enhanced notes
Underlying index:	S&P 500
Amount:	$85,000
Maturity:	April 13, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.26 times any index gain; par if index finishes flat or falls by up to 20%; otherwise, 1% loss for every 1% that index declines from initial level
Initial level:	2,659.41
Final level:	Average of index’s closing levels on five trading days ending April 10, 2023
Barrier value:	2,127.53, 80% of initial index level
Pricing date:	April 8
Settlement date:	April 14
Agent:	Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
Fees:	2%
Cusip:	06747PMQ9

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