New Issue: Barclays prices $2.31 million phoenix autocallable notes on SoFi, Affirm

By William Gullotti

Buffalo, N.Y., Oct. 20 – Barclays Bank plc priced $2.31 million of phoenix autocallable notes due Oct. 18, 2024 linked to the least performing of the stocks of SoFi Technologies, Inc. and Affirm Holdings Inc., according to a 424B2 filing with Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 21% if each stock closes at or above its 60% coupon barrier on a related observation date.

The notes will be called at par plus contingent coupon if each stock closes at or above its call level, 80% of initial level, on any monthly call observation date after three months.

If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon barrier but at or above its 50% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stocks:	SoFi Technologies, Inc., Affirm Holdings Inc.
Amount:	$2,306,000
Maturity:	Oct. 18, 2024
Coupon:	21% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	If each stock finishes at or above coupon barrier, par plus final coupon; if the worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, lose 1% for every 1% decline of worst performer from initial level
Call:	Automatically at par plus coupon if each stock closes at or above call level on any monthly observation date after three months
Initial levels:	$19.38 for SoFi, $146.73 for Affirm
Call levels:	$15.50 for SoFi, $117.38 for Affirm; 80% of initial levels
Coupon barriers:	$11.63 for SoFi, $88.04 for Affirm; 60% of initial levels
Final barriers:	$9.69 for SoFi, $73.36 for Affirm; 50% of initial levels
Pricing date:	Oct. 15
Settlement date:	Oct. 20
Agent:	Barclays
Fees:	3.5%
Cusip:	06748WN66

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