New Issue: Barclays prices $965,000 callable contingent coupon notes on SPDR S&P ETF

By Taylor Fox

New York, Feb. 24 – Barclays Bank plc priced $965,000 of callable contingent coupon notes due Feb. 23, 2024 linked to the SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay an annualized coupon of 5% each quarter if the closing price of the fund closes at or above its barrier level, 60% of its initial share price, on the observation date for that period.

The notes will be callable at par plus any coupon due on any quarterly observation date.

If the notes are not called, the payout will be par plus unless the fund finishes below its barrier level, in which case investors will be fully exposed to the return of the ETF.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying ETF:	SPDR S&P 500 ETF
Amount:	$965,000
Maturity:	Feb. 23, 2024
Coupon:	5% per year, payable quarterly if fund closes at or above its coupon barrier level, 60% of its initial share price, on the observation date for that period
Price:	Par
Payout at maturity:	Par unless final share price is less than barrier level, in which case exposure to losses of the fund
Call option:	At par plus any coupon due on any quarterly observation date
Initial share price:	$390.72
Barrier level:	$234.43, 60% of initial price
Pricing date:	Feb. 19
Settlement date:	Feb. 24
Agent:	Barclays
Fees:	1.85%
Cusip:	06748EA29

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