New Issue: Barclays prices $500,000 callable fixed-coupon notes on S&P

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – Barclays Bank plc priced $500,000 of callable fixed-coupon notes due Dec. 25, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.85% per year and will be payable monthly.

The notes will be callable at par on any quarterly valuation date.

If the notes are not called, the payout at maturity will be par unless the index finishes below its initial level and ever closes below its trigger level, 50% of its initial level, in which case the payout will be par minus 1% for every 1% that the index declines from its initial level.

Barclay is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable fixed-coupon notes
Underlying index:	S&P 500
Amount:	$500,000
Maturity:	Dec. 25, 2022
Coupon:	2.85%, payable monthly
Price:	Par
Call option:	At par on any quarterly valuation date
Payout at maturity:	Par unless index finishes below initial level and ever closes below trigger level, in which case par minus 1% for every 1% that index declines from initial level
Initial level:	3,687.26
Trigger level:	1,843.63; 50% of initial level
Pricing date:	Dec. 22
Settlement date:	Dec. 28
Agent:	Barclays
Fees:	0.65%
Cusip:	06747QTL1

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