New Issue: Barclays sells $16.61 million trigger absolute return step notes on S&P

By Sarah Lizee

Olympia, Wash., May 31 – Barclays Bank plc priced $16.61 million of 0% trigger absolute return step securities due May 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return of 30.6%.

If the index falls by up to its 75% downside threshold, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

Barclays and UBS Financial Services Inc. are the agents.

Issuer:	Barclays Bank plc
Issue:	Trigger absolute return step securities
Underlying index:	S&P 500
Amount:	$16,613,820
Maturity:	May 31, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes at or above its initial level, par plus the greater of the gain and the step return of 30.6%; if the index falls by up to the downside threshold, par plus the absolute value of the return; otherwise, full exposure to any losses
Initial level:	2,802.39
Downside threshold:	2,101.79, 75% of initial level
Pricing date:	May 28
Settlement date:	May 31
Agents:	Barclays and UBS Financial Services Inc.
Fees:	3.5%
Cusip:	06747A243

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