New Issue: Barclays prices $5.7 million contingent interest notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 1 – Barclays Bank plc priced $5.7 million of contingent interest notes due March 30, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above the buffer value, 65% of the initial index level, on a quarterly observation date, the notes will pay a contingent coupon that quarter at the rate of 14.8% per year plus any previously unpaid contingent coupons.

The payout at maturity will be par unless the final index level is less than the buffer value, in which case investors will lose 1.53846% for every 1% that the index declines beyond 35%.

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

Issuer:	Barclays Bank plc
Issue:	Contingent interest notes
Underlying index:	S&P 500
Amount:	$5.7 million
Maturity:	March 30, 2022
Coupon:	If index closes at or above buffer value on quarterly observation date, notes pay contingent coupon that quarter at rate of 14.8% per year plus any previously unpaid contingent coupons
Price:	Par
Payout at maturity:	Par unless final index level is less than buffer value, in which case 1.53846% loss for every 1% that index declines beyond 35%
Initial level:	2,818.46
Final index level: Average of index’s closing levels on five trading days ending March 25, 2022
Buffer value:	1,832.00, 65% of initial index level
Pricing date:	March 26
Settlement date:	March 29
Agent:	Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	2%
Cusip:	06747ML53

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