Barclays Bank PLC outlined buffered callable contingent coupon notes with a $1,000 initial issue price, linked to the least performing of the S&P 500, Nasdaq-100 and Consumer Staples Select Sector SPDR Fund. Investors face an estimated model value of $938.80 to $988.80 and unsecured, unlisted obligations.

Key Highlights

  • The notes offer a contingent coupon of $9.583 per $1,000 principal amount when the stated asset conditions are met.
  • Barclays Bank PLC’s internal models place the notes’ estimated value between $938.80 and $988.80 per note.
  • The securities are unsecured, unsubordinated obligations and will not trade on a U.S. securities exchange or Quotation system.

The notes are due June 24, 2027. The preliminary terms carry an initial issue price of $1,000 per note. Barclays Bank PLC may redeem the notes in full, but not partially, on a call valuation date at its discretion after an initial period of approximately one month. No further payments are due once Redemption occurs.

Coupon Terms and Model Value

The contingent coupon is $9.583 for each $1,000 principal amount note, equal to 0.9583% of principal and based on an annualized rate of 11.50%. Payment depends on the closing value of each reference asset reaching or exceeding its corresponding coupon barrier on an observation date. Barclays Bank PLC’s internal pricing models estimate a value between $938.80 and $988.80 per note, below the $1,000 initial issue price. The agent commission is 0.00%, while proceeds to Barclays Bank PLC are 100.00% per note. The notes will not be listed on a U.S. securities exchange or quotation system.