New Issue: Barclays prices $510,000 autocallable fixed coupon notes on Avis

By Kiku Steinfeld

Chicago, Nov. 10 – Barclays Bank plc priced $510,000 of 17.5% autocallable fixed-coupon notes due April 16, 2024 linked to the common stock of Avis Budget Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be automatically called at par if the stock closes at or above its initial level on Oct. 11, 2023 or Jan. 11, 2024.

If the notes are not called, the payout at maturity will be par unless the stock finishes below 50% of its initial level, in which cases investors will receive a number of shares equal to $10,000 divided by that stock’s initial share price or the cash equivalent at the issuer’s option.

Barclay is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable fixed-coupon notes
Underlying stock:	Avis Budget Group, Inc.
Amount:	$510,000
Maturity:	April 16, 2024
Coupon:	17.5% per year, payable monthly
Price:	Par of $10,000
Payout at maturity:	Par unless stock finishes below barrier level, in which case investors will receive 51.27153 shares or the cash equivalent at the issuer’s option
Call:	At par if stock closes at or above initial level on Oct. 11, 2023 or Jan. 11, 2024
Initial level:	$195.04
Barrier level:	$97.52, 50% of initial level
Pricing date:	April 11, 2023
Settlement date:	April 14, 2023
Agent:	Barclays
Fees:	1%
Cusip:	06741W3V0

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