New Issue: Barclays prices $1.51 million phoenix autocallables on three stocks

By Wendy Van Sickle

Columbus, Ohio, April 11 – Barclays Bank plc priced $1.51 million of phoenix autocallable notes due April 10, 2025 linked to the least performing of the ordinary shares of Spotify Technology SA, the class A common stock of Facebook, Inc. and the common stock of Activision Blizzard, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at an annual rate of 20.15% if each stock closes at or above its 60% coupon barrier on the observation date for that period.

Beginning with the third observation date, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any observation date prior to maturity.

The payout at maturity will be par plus any coupon unless any stock finishes below its 50% barrier, in which case investors will be fully exposed to the decline of the worst performing stock.

If the final value is below the barrier value, the payout will either be in cash or, at the election of the issuer, a number of shares of the least performing stock equal to the price of the notes divided by the initial value plus cash equal to the fractional share amount.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stocks:	Spotify Technology SA, Facebook, Inc. and Activision Blizzard, Inc.
Amount:	$1,513,000
Maturity:	April 10, 2025
Coupon:	20.15%, payable monthly if each asset closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	Par plus contingent coupon unless least-performing asset finishes below barrier level, in which case 1% loss for each 1% decline of least-performing asset payable in shares or cash
Call:	Automatically at par plus contingent coupon if each asset closes at or above initial level on any observation date beginning with the third date
Initial levels:	$141.13 for Spotify, $175.72 for Facebook, $47.29 for Activision Blizzard
Coupon barriers:	$84.68 for Spotify, $105.43 for Facebook, $28.37 for Activision Blizzard, 60% of initial values
Barrier levels:	$70.57 for Spotify, $87.86 for Facebook, $23.65 for Activision Blizzard, 50% of initial values
Pricing date:	April 5
Settlement date:	April 10
Agents:	Barclays
Fees:	1%
Cusip:	06747ML87

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