New Issue: Barclays sells $2 million callable contingent coupon notes on S&P 500

By William Gullotti

Buffalo, N.Y., July 28 – Barclays Bank plc priced $2 million of callable contingent coupon notes due Jan. 25, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 6.6% if the index closes at or above its coupon barrier level, 80% of its initial level, on the valuation date for that period.

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

If the notes are not redeemed, the payout will be par plus final coupon if the index finishes at or above the 80% final barrier. Otherwise, investors will be fully exposed to the index’s decline from initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying index:	S&P 500 index
Amount:	$2,000,000
Maturity:	Jan. 25, 2023
Contingent coupon:	6.6% per year, payable quarterly if the index closes at or above coupon barrier on the valuation date for that period
Price:	Par
Payout at maturity:	Par plus the final coupon if the index finishes at or above final barrier; otherwise, investors will lose 1% for each 1% decline from initial level
Call option:	In whole at par plus any coupon due on any quarterly observation date
Initial levels:	4,323.06
Coupon barrier levels:	3,458.45; 80% of initial levels
Final barrier levels:	3,458.45; 80% of initial levels
Strike date:	July 20
Pricing date:	July 22
Settlement date:	July 27
Agent:	Barclays
Fees:	1%
Cusip:	06748W6J7

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