New Issue: Barclays prices $819,000 phoenix autocallable notes linked to S&P 500

By Kiku Steinfeld

Chicago, Jan. 22 – Barclays Bank plc priced $819,000 of phoenix autocallable notes due June 5, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7.25% if the index closes at or above its 60% coupon barrier on a related observation date.

The notes will be called at par plus contingent coupon if the index closes at or above its initial level on any monthly call observation date after six months

The payout at maturity will be par plus the final coupon unless the index finishes below 60% of its initial value in which case investors will be fully exposed to the losses of the index.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying index:	S&P 500 index
Amount:	$819,000
Maturity:	June 5, 2025
Coupon:	7.25% annualized, payable monthly if index closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par plus final coupon unless underlying index finishes below final barrier, in which case full exposure to loss of index
Call:	At par plus contingent coupon if underlying index closes at or above initial level on any monthly call observation date after six months
Initial level:	4,282.37
Coupon barrier:	2,569.42; 60% of initial level
Final barrier:	2,569.42; 60% of initial level
Pricing date:	June 2, 2023
Settlement date:	June 7, 2023
Agent:	Barclays
Fees:	0.85%
Cusip:	06745MFK9

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