New Issue: Barclays sells $5.32 million phoenix autocallable notes on Target, SoFi, Visa

By William Gullotti

Buffalo, N.Y., Nov. 23 – Barclays Bank plc priced $5.32 million of phoenix autocallable notes due Nov. 14, 2024 linked to the least performing of the stocks of Target Corp., SoFi Technologies, Inc. and Visa Inc., according to a 424B2 filing with Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 17.5% if each stock closes at or above its 60% coupon barrier on a related observation date.

The notes will be called at par plus contingent coupon if each stock closes at or above its initial level on any monthly call observation date after three months.

If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon barrier but at or above its 50% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Phoenix autocallable notes
Underlying stocks:	Target Corp., SoFi Technologies, Inc., Visa Inc.
Amount:	$5,324,000
Maturity:	Nov. 14, 2024
Coupon:	17.5% annualized, payable monthly if each stock closes at or above coupon barrier on related observation date
Price:	Par
Payout at maturity:	If each stock finishes at or above coupon barrier level, par plus final coupon; if worst performer finishes below its coupon barrier but at or above final barrier, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from initial level
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any monthly observation date after three months
Initial levels:	$253.33 for Target, $22.74 for SoFi, $220.49 for Visa
Coupon barriers:	$152.00 for Target, $13.64 for SoFi, $132.29 for Visa; 60% of initial levels
Final barriers:	$126.67 for Target, $11.37 for SoFi, $110.25 for Visa; 50% of initial levels
Pricing date:	Nov. 8
Settlement date:	Nov. 12
Agent:	Barclays
Fees:	3.25%
Cusip:	06748WQW6

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