New Issue: Barclays prices $1.44 million callable contingent coupon notes tied to four stocks

By William Gullotti

Buffalo, N.Y., March 22 – Barclays Bank plc priced $1.44 million of callable contingent coupon notes due March 11, 2027 linked to the worst performing of Amazon.com, Inc., Costco Wholesale Corp., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at an annualized rate of 12.5% if each stock closes at or above its coupon barrier level, 70% of its initial level, on the related observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.

After three months, the notes will be callable in whole at par plus any coupon due on any monthly call date.

If the notes are not redeemed early and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon barrier but at or above its 50% final barrier level, the payout will be par. 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:	Callable contingent coupon notes
Underlying stocks:	Amazon.com, Inc., Costco Wholesale Corp., Walmart Inc., Target Corp.
Amount:	$1,435,000
Maturity:	March 11, 2027
Contingent coupon:	12.5% per year, payable monthly if each stock closes at or above coupon barrier on the observation date for that period; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus final coupon if each stock finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, lose 1% for every 1% that the worst performer has declined from its initial level
Call option:	In whole at par plus any coupon due on any monthly call date after three months
Initial levels:	$175.35 for Amazon, $60.12 for Walmart, $725.56 for Costco, $169.72 for Target
Coupon barriers:	$122.75 for Amazon, $42.08 for Walmart, $507.89 for Costco, $118.80 for Target; 70% of initial levels
Final barrier levels:	$87.68 for Amazon, $30.06 for Walmart, $362.78 for Costco, $84.86 for Target; 50% of initial levels
Pricing date:	March 8
Settlement date:	March 13
Agent:	Barclays
Fees:	0.75%
Cusip:	06745Q7G8

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