New Issue: Barclays sells $29.92 million 7.5% STEP Income Securities on Amazon

By Wendy Van Sickle

Columbus, Ohio, June 1 – Barclays Bank plc priced $29.92 million of 7.5% STEP Income Securities due June 10, 2022 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

If the final price of Amazon stock is greater than or equal to the step level, 107.5% of the initial share price, the payout at maturity will be par of $10 plus 3.4%.

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

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

BofA Merrill Lynch is the agent.

Issuer:	Barclays Bank plc
Issue:	STEP Income Securities
Underlying stock:	Amazon.com, Inc. (Symbol: AMZN)
Amount:	$29,919,460
Maturity:	June 10, 2022
Coupon:	7.5%, payable quarterly
Price:	Par of $10.00
Payout at maturity:	If final share price is greater than or equal to step level, par plus 3.4%; if final share price is greater than or equal to initial share price but less than step level, par; if final share price is less than initial share price, 1% loss for each 1% decline
Initial share price:	$3,240.84
Step level:	$3,483.90, 107.5% of initial share price
Pricing date:	May 27
Settlement date:	June 4
Agent:	BofA Merrill Lynch
Fees:	1.5%
Cusip:	06747R170

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