New Issue: Barclays prices $2.27 million contingent barrier notes linked to S&P 500

By Sarah Lizee

Olympia, Wash., May 14 – Barclays Bank plc priced $2.27 million of 0% contingent barrier notes due Nov. 12, 2020 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 initial index level, the payout at maturity will be par plus the index return.

If the final index level is less than or equal to the initial index level but greater than or equal to the barrier value, 82.95% of the initial index level, the payout will be par.

If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.

Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

Issuer:	Barclays Bank plc
Issue:	Contingent barrier notes
Underlying index:	S&P 500
Amount:	$2.27 million
Maturity:	Nov. 12, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than initial index level, par plus index return; if final index level is less than or equal to initial index level but greater than or equal to barrier value, par; if final index level is less than barrier value, 1% loss for every 1% that index declines from initial level
Initial level:	2,881.40
Final level:	Average of index’s closing levels on five trading days ending Nov. 6, 2020
Barrier value:	2,390.12, 82.95% of initial level
Pricing date:	May 10
Settlement date:	May 15
Agents:	Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	06747MTH9

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