New Issue: Barclays sells $500,000 buffered autocallable contingent coupon notes on S&P

By Kiku Steinfeld

Chicago, March 16 – Barclays Bank plc priced $500,000 of buffered autocallable contingent coupon notes due Dec. 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of 9.75% if the index closes at or above its 80% coupon barrier level on the related observation date.

After six months, if the index closes at or above its initial level on any quarterly observation date, the notes will be automatically redeemed at par.

If the notes are not redeemed prior to maturity, the payout will be par unless the index finishes below 85% of its initial level, in which case investors will lose 1% for each 1% the index loses more than 15%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Buffered autocallable contingent coupon notes
Underlying index:	S&P 500
Amount:	$500,000
Maturity:	Dec. 5, 2024
Contingent coupon:	9.75%, payable quarterly if the index closes at or above its coupon barrier level on related observation date
Price:	Par
Payout at maturity:	Par if the index finishes at or above buffer level; 1% loss for each 1% index decline beyond buffer
Call:	After six months, if the index closes above its initial level on any quarterly observation date, the notes will be automatically redeemed at par
Initial index level:	4,080.11
Coupon barrier level:	3,264.09, 80% of initial level
Buffer level:	3,468.09, 85% of initial level
Pricing date:	Nov. 30, 2022
Settlement date:	Dec. 5, 2022
Agent:	Barclays
Fees:	0.45%
Cusip:	06749N6T4

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