New Issue: Barclays sells $294,000 barrier lock-in notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., May 24 – Barclays Bank plc priced $294,000 of 0% barrier lock-in notes due April 28, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index return is greater than or equal to negative 25%, the payout at maturity will be par plus the lock-in return. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.

The lock-in return will be the greater of the highest index return on any observation date and zero. The observation dates are April 30, 2020, April 30, 2021, April 29, 2022 and April 25, 2023. With respect to each observation date, the index return will be the percentage change in the index from the initial index level to the index’s closing level on that observation date.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Barrier lock-in notes
Underlying index:	S&P 500 index
Amount:	$294,000
Maturity:	April 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the final index return is greater than or equal to negative 25%, par plus the lock-in return; otherwise, 1% loss for every 1% that the index declines from its initial level; lock-in return will be the greater of the highest index return on any annual observation date (April 30, 2020, April 30, 2021, April 29, 2022 and April 25, 2023) and zero
Initial index level:	2,945.83
Pricing date:	April 30
Settlement date:	May 3
Agent:	Barclays
Fees:	1.85%
Cusip:	06747MLD6

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