New Issue: Barclays prices $315,000 autocallable contingent coupon notes on three stocks

By Kiku Steinfeld

Chicago, Feb. 23 – Barclays Bank plc priced $315,000 of autocallable contingent coupon notes due June 26, 2026 linked to Intel Corp., Las Vegas Sands Corp. and the American Depositary Shares of Vale SA, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 22% if each stock closes above its coupon barrier price, 65% of its initial price, on the related determination date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.

The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after six months.

If the notes are not called and the final share price of each stock is greater than or equal to the 60% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock from its initial level.

Barclays is the underwriter.

Issuer:	Barclays Bank plc
Issue:	Autocallable contingent coupon notes
Underlying stocks:	Intel Corp., Las Vegas Sands Corp. and Vale SA
Amount:	$315,000
Maturity:	June 26, 2026
Coupon:	22% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par if each stock finishes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock from initial share price
Call:	At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after six months
Initial share prices:	$13.91 for Vale, $32.71 for Intel, $58.14 for Vegas Sands
Coupon barrier prices:	$9.04 for Vale, $21.26 for Intel, $37.79 for Vegas Sands; 65% of initial levels
Final barrier prices:	$8.35 for Vale, $19.63 for Intel, $34.88 for Vegas Sands; 60% of initial levels
Pricing date:	June 23, 2023
Settlement date:	June 28, 2023
Agent:	Barclays
Fees:	2%
Cusip:	06745MLX4

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