New Issue: Barclays sells $3.12 million phoenix autocallable notes on Truist

By Kiku Steinfeld

Chicago, Dec. 17 – Barclays Bank plc priced $3.12 million of phoenix autocallable notes Dec. 14, 2023 linked to the common stock of Truist Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9.3% if the stock closes at or above its 60% coupon barrier on a related observation date.

After six months, the notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly call observation date other than the final one.

The payout at maturity will be par plus the coupon unless the stock finishes below 60% of its initial value, in which case investors will be fully exposed to the stock’s decline.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	Truist Financial Corp.
Amount:	$3,115,000
Maturity:	Dec. 14, 2023
Coupon:	9.3% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par plus coupon unless stock finishes below final barrier level, in which case full exposure to stock’s decline
Call:	After six months, at par plus contingent coupon if stock closes at or above its initial level on any quarterly call observation date other than final one
Initial level:	$47.88
Coupon barriers:	$28.73, 60% of initial levels
Final barriers:	$28.73, 60% of initial levels
Pricing date:	Dec. 10
Settlement date:	Dec. 15
Agent:	Barclays
Fees:	1.6%
Cusip:	06747QSX6

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