New Issue: Barclays sells $3.59 million 10.41% autocallable step down fixed coupon notes on stocks

By William Gullotti

Buffalo, N.Y., Jan. 18 – Barclays Bank plc priced $3.59 million of 10.41% autocallable step down fixed coupon notes due July 2, 2025 linked to the stock performance of Apple Inc., Citigroup Inc. and Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be paid monthly.

The notes will be automatically called at par plus the coupon if each stock closes at or above its call threshold level on any monthly observation date after four months. Call threshold level will be equal to 95% of initial level for the first three call dates, stepping down to 90% of initial level for the next six subsequent call dates and stepping down to 85% of initial level for the remaining five call dates.

If each stock finishes at or above its barrier level, 55% of initial level, the payout at maturity will be par plus the final coupon.

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:	Autocallable step down fixed coupon notes
Underlying stocks:	Apple Inc., Citigroup Inc., Palo Alto Networks, Inc.
Amount:	$3,585,000
Maturity:	July 2, 2025
Coupon:	10.41% per year, paid monthly
Price:	Par
Payout at maturity:	If each stock finishes at or above barrier level, par plus final coupon; otherwise, lose 1% for every 1% that worst performer declines from initial level
Call:	At par plus coupon if each stock closes at or above its call threshold level on any monthly observation date after four months; call threshold level will be 95% of initial level for the first three call dates, stepping down to 90% of initial level for the next six subsequent call dates and stepping down to 85% of initial level for the remaining five call dates
Initial levels:	$185.14 for Apple, $53.48 for Citi, $300.42 for Palo Alto
Barrier levels:	$101.83 for Apple, $29.41 for Citi, $165.23 for Palo Alto; 55% of initial levels
Strike date:	Jan. 9
Pricing date:	Jan. 10
Settlement date:	Jan. 17
Agent:	Barclays
Fees:	2.5%
Cusip:	06745PKB6

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