New Issue: Barclays prices $5 million STEP Income Securities on stock basket

By Sarah Lizee

Olympia, Wash., June 4 – Barclays Bank plc priced $5 million of 12.5% STEP Income Securities due June 11, 2021 linked to an equally-weighted basket consisting of the common stocks of Tesla, Inc., Nvidia Corp. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

If the final level of the basket is greater than or equal to the step level, 112.5% of the initial level, the payout at maturity will be par of $10 plus 5.6%.

If the final basket level is greater than or equal to the initial level but less than the step level, investors will receive par.

If the final basket level is less than the initial level, investors will lose 1% for each 1% decline.

BofA Securities, Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	STEP Income Securities
Underlying stocks:	Tesla, Inc., Nvidia Corp. and Netflix, Inc.; equal weights
Amount:	$5 million
Maturity:	June 11, 2021
Coupon:	12.5%, payable quarterly
Price:	Par of $10.00
Payout at maturity:	If final basket level is greater than or equal to step level, par plus 5.6%; if final basket level is greater than or equal to initial level but less than step level, par; if final basket level is less than initial level, 1% loss for each 1% decline
Initial share prices:	$805.81 for Tesla, $339.48 for Nvidia, $413.44 for Netflix
Step level:	112.5% of initial basket level
Pricing date:	May 28
Settlement date:	June 4
Agent:	BofA Securities, Inc.
Fees:	1.25%
Cusip:	06747H628

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