New Issue: Barclays sells $1.8 million annual autocallables on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, Jan. 10 – Barclays Bank plc priced $1.8 million of 0% annual autocallable notes due Jan. 12, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 9.7% per year if each index closes at or above its initial level on any of five annual call valuation dates. The call level will be 105% of the initial levels on the first valuation date and will step up by 5% each year.

If the notes are not called and the final level of the lesser-performing index is greater than or equal to its buffer level, 90% of its initial level, the payout at maturity will be par plus 10%. Otherwise, investors will be lose 1% for each 1% decline of the lesser-performing index beyond 10%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Annual autocallable notes
Underlying indexes:	S&P 500 and Euro Stoxx 50
Amount:	$1.8 million
Maturity:	Jan. 12, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If final level of lesser-performing index is greater than or equal to 90% of initial level, par; otherwise, exposure to decline of laggard index beyond 10%
Call:	Automatically at par plus 9.7% per year if each index closes at or above call level on any of five valuation dates; call level is 105% of initial level on first annual date and steps up by 5% each subsequent year
Initial index levels:	1,561.81 for Russell and 2,747.71 for S&P 500
Pricing date:	Jan. 8
Settlement date:	Jan. 11
Agent:	Barclays
Fees:	4.5%
Cusip:	06744CRM5

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