New Issue: Barclays sells $500,000 phoenix autocallable notes on US Bancorp

By Kiku Steinfeld

Chicago, Oct. 16 – Barclays Bank plc priced $500,000 of phoenix autocallable notes due Sept. 25, 2024 linked to the common stock of US Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 17% if the stock closes at or above its 70% coupon barrier on the related observation date.

The notes will be called at par plus the contingent coupon if the stock closes at or above 95% of its initial share price on any quarterly call observation date.

The payout at maturity will be par unless the stock finishes below 60% of its initial value, in which case investors will be fully exposed to the decline.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stock:	US Bancorp
Amount:	$500,000
Maturity:	Sept. 25, 2024
Coupon:	17% annualized, payable quarterly if stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par unless stock finishes below final barrier, in which case full exposure to decline
Call:	At par plus contingent coupon if stock closes at or above 95% of initial share price on any quarterly call observation date
Initial share price:	$34.45
Coupon barrier level:	$24.12, 70% of initial level
Final barrier level:	$20.67, 60% of initial level
Pricing date:	March 27, 2023
Settlement date:	March 30, 2023
Agent:	Barclays
Fees:	2.475%
Cusip:	06749NYA4

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