New Issue: Barclays prices $33.01 million enhanced step-up notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 3 – Barclays Bank plc priced $33.01 million of 0% enhanced market-linked step-up notes due March 25, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the step-up value, 128.01% of the initial index level, the payout at maturity will be par plus the index return.

If the final index level is greater than or equal to the threshold level, 90% of the initial index level, but less than or equal to the step-up value, the payout will be par plus the step-up payment, 28.01%.

If the final index level is less than the threshold level, investors will lose 1% for every 1% that the index declines beyond 10%.

BofA Merrill Lynch is the agent.

Issuer:	Barclays Bank plc
Issue:	Enhanced market-linked step-up notes
Underlying index:	S&P 500
Amount:	$33,013,510
Maturity:	March 25, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to threshold level but less than or equal to step-up value, par plus 28.01%; if final index level is less than threshold level, 1% loss for every 1% that index declines beyond 10%
Initial index level:	2,368.06
Step-up value:	3,031.35, 128.01% of initial level
Threshold level:	2,131.25, 90% of initial level
Pricing date:	March 30
Settlement date:	April 6
Agent:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	06745T582

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