New Issue: Barclays sells $590,000 leveraged market-linked autocalls with downside on S&P

By Kiku Steinfeld

Chicago, March 13 – Barclays Bank plc priced $590,000 of market-linked securities due Dec. 1, 2026 – autocallable with leveraged upside participation and contingent downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a 12.5% call premium if the index closes at or above its initial level on Dec. 1, 2023.

The payout at maturity will be par plus 150% of any gain of the index.

If the index falls by up to 35%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

Wells Fargo Securities, LLC and Barclays Capital Inc. are the agents.

Issuer:	Barclays Bank plc
Issue:	Market linked securities – autocallable with leveraged upside participation and contingent downside
Underlying index:	S&P 500 index
Amount:	$590,000
Maturity:	Dec. 1, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	150% of any gain, par if index falls by up to 35%; otherwise, full exposure to decline of index from initial level
Call:	At par plus a 12.5% call premium if the index closes at or above its initial level on Dec. 1, 2023
Initial level:	3,963.94
Downside threshold level:	2,576.561; 65% of initial level
Pricing date:	Nov. 28, 2022
Settlement date:	Dec. 1, 2022
Agents:	Wells Fargo Securities, LLC and Barclays Capital Inc.
Fees:	2.475%
Cusip:	06749N5Z1

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