Obligation Barclay PLC 6% ( US06747NZB36 ) en USD

Barclay PLC

99.85 % ⇌

Royaume-Uni

US06747NZB36 ( en USD )

6% par an ( paiement semestriel )

31/01/2025 - Obligation échue

Prospectus brochure de l'obligation Barclays PLC US06747NZB36 en USD 6%, échue

1 000 USD

3 692 000 USD

06747NZB3

N/A

Barclays PLC est une banque multinationale britannique offrant une large gamme de services financiers, notamment la banque de détail, la gestion de patrimoine, la banque d'investissement et les cartes de crédit, opérant dans de nombreux pays à travers le monde.

Le marché financier a récemment observé l'échéance et le remboursement intégral de l'obligation de type US06747NZB36 (Code CUSIP : 06747NZB3), émise par Barclays PLC, une institution financière mondiale de premier plan dont le siège est au Royaume-Uni, reconnue pour son offre diversifiée de services bancaires universels, de marchés de capitaux et de gestion de patrimoine. Cette émission, libellée en dollars américains (USD), totalisait 3 692 000 unités avec une taille minimale d'acquisition de 1 000 unités, et proposait un taux d'intérêt de 6% assorti d'une fréquence de paiement semestrielle. Parvenue à sa date de maturité fixée au 31 janvier 2025, cette obligation, dont le prix actuel sur le marché s'élevait à 99,85% avant son échéance, a été intégralement remboursée, clôturant ainsi son cycle financier, bien qu'elle n'ait pas fait l'objet d'une notation officielle par l'agence Moody's, se présentant comme 'NR' (Non Notée).

424B2 1 dp119991_424b2-2846barc.htm FORM 424B2
Pricing Supplement dated January 28, 2020
Filed Pursuant to Rule
(To the Prospectus dated August 1, 2019, the Prospectus Supplement dated August 1, 2019 and the Underlying
424(b)(2)
Supplement dated August 1, 2019)
Registration No. 333-232144
$ 3 ,6 9 2 ,0 0 0
Ca lla ble Cont inge nt Coupon N ot e s due J a nua ry 3 1 , 2 0 2 5
Link e d t o t he Le a st Pe rform ing of t he Dow J one s I ndust ria l Ave ra ge ®, t he Russe ll
2 0 0 0 ® I nde x a nd t he S& P 5 0 0 ® I nde x
Globa l M e dium -T e rm N ot e s Se rie s A
,
Unlike ordinary debt securities, the Notes do not guarantee the payment of interest or any return of principal at maturity. Instead, as described
below and subject to early redemption at the discretion of the Issuer, the Notes offer a Contingent Coupon for each Observation Date on which the
Closing Value of each Underlier is greater than or equal to its Coupon Barrier Value. Investors should be willing to forgo dividend payments and,
if the Final Underlier Value of any Underlier is less than its Barrier Value, be willing to lose a significant portion or all of their investment at
maturity. Investors will be exposed to the market risk of each Underlier and any decline in the value of one Underlier may negatively affect
their return and will not be offset or mitigated by a lesser decline or any potential increase in the values of the other Underliers.
Terms used in this pricing supplement, but not defined herein, shall have the meanings ascribed to them in the prospectus supplement.
Issuer:
Barclays Bank PLC
Denominations:
Minimum denomination of $1,000, and integral multiples of $1,000 in excess thereof
Initial Valuation
January 28, 2020
Date:
Issue Date:
January 31, 2020
Final Valuation
January 28, 2025
Date:
Maturity Date:
January 31, 2025
Reference Assets:*
The Dow Jones Industrial Average® (the "INDU Index"), the Russell 2000® Index (the "RTY Index") and the S&P 500®
Index (the "SPX Index") (each, an "Underlier" and together, the "Underliers"), as set forth in the following table:

Initial Underlier
Coupon Barrier
Underliers
Bloomberg Ticker
Barrier Value
Value
Value

INDU Index
INDU<Index>
28,722.85
20,106.00
20,106.00

RTY Index
RTY<Index>
1.658.31
1,160.82
1,160.82

SPX Index
SPX<Index>
3,276.24
2,293.37
2,293.37
Early Redemption at The Notes will not be redeemable by us for the first year after the Issue Date. We may redeem the Notes (in whole but not
the Option of the
in part) at our sole discretion without your consent on any Contingent Coupon Payment Date (other than the final
Issuer:
Contingent Coupon Payment Date), beginning with the Contingent Coupon Payment Date following the fourth Observation
Date, for $1,000 per $1,000 principal amount Note plus any Contingent Coupon otherwise due, provided that we give at
least five business days' prior written notice to the trustee. No further amounts will be payable on the Notes after they have
been redeemed.
Contingent Coupon: $15.00 per $1,000 principal amount Note (based on a rate of 6.00% per annum or 1.50% per quarter)
If we have not redeemed the Notes early and the Closing Value of each Underlier on an Observation Date is greater than or
equal to its Coupon Barrier Value, you will receive a Contingent Coupon on the related Contingent Coupon Payment Date.
If the Closing Value of any Underlier on an Observation Date is less than its Coupon Barrier Value, you will not receive a
Contingent Coupon on the related Contingent Coupon Payment Date.
Payment at Maturity: If we do not redeem the Notes early, you will receive on the Maturity Date a cash payment per $1,000 principal amount
Note determined as follows:
If the Final Underlier Value of the Least Performing Underlier is greater than or equal to its Barrier Value, you
will receive a payment of $1,000 per $1,000 principal amount Note plus the Contingent Coupon otherwise due
If the Final Underlier Value of the Least Performing Underlier is less than its Barrier Value, you will receive an
amount per $1,000 principal amount Note calculated as follows:
$1,000 + ($1,000 × Underlier Return of the Least Performing Underlier)
If we do not redeem the Notes early and the Final Underlier Value of any Underlier is less than its Barrier Value, your
Notes will be fully exposed to the decline of the Least Performing Underlier from its Initial Underlier Value and you will
lose some or all of your investment at maturity. Any payment on the Notes, including any repayment of principal, is not
guaranteed by any third party and is subject to (a) the creditworthiness of Barclays Bank PLC and (b) the risk of
exercise of any U.K. Bail-in Power (as described on page PS- 4 of this pricing supplement) by the relevant U.K.
resolution authority. See "Selected Risk Considerations" and "Consent to U.K. Bail-in Power" in this pricing
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supplement and "Risk Factors" in the accompanying prospectus supplement.
Consent to U.K.
Notwithstanding any other agreements, arrangements or understandings between Barclays Bank PLC and any holder or
Bail-in Power:
beneficial owner of the Notes, by acquiring the Notes, each holder and beneficial owner of the Notes acknowledges, accepts,
agrees to be bound by, and consents to the exercise of, any U.K. Bail-in Power by the relevant U.K. resolution authority.
See "Consent to U.K. Bail-in Power" on page PS-4 of this pricing supplement.
(Terms of the Notes continue on the next page)

Initial Issue Price(1)(2)
Price to Public
Agent's Commission(3)
Proceeds to Barclays Bank PLC
Per Note
$1,000
100%
4.125%
95.875%
Total
$3,692,000
$3,692,000
$151,358
$3,540,642
(1) Because dealers who purchase the Notes for sale to certain fee-based advisory accounts may forgo some or all selling concessions, fees or
commissions, the public offering price for investors purchasing the Notes in such fee-based advisory accounts may be between $958.75 and
$1,000 per Note. Investors that hold their Notes in fee-based advisory or trust accounts may be charged fees by the investment advisor or
manager of such account based on the amount of assets held in those accounts, including the Notes.
(2) Our estimated value of the Notes on the Initial Valuation Date, based on our internal pricing models, is $944.80 per Note. The estimated value
is less than the initial issue price of the Notes. See "Additional Information Regarding Our Estimated Value of the Notes" on page PS-5 of this
pricing supplement.
(3) Barclays Capital Inc. will receive commissions from the Issuer of up to $41.25 per $1,000 principal amount Note. Barclays Capital Inc. will
use these commissions to pay variable selling concessions or fees (including custodial or clearing fees) to other dealers. The agent's
commission per Note shown above is the maximum agent's commission, and the proceeds to Issuer per Note shown above is the minimum
amount of proceeds that the Issuer receives per Note. The total agent's commission and total proceeds to Issuer shown above give effect to
the actual amount of the variable agent's commission.
Investing in the Notes involves a number of risks. See "Risk Factors" beginning on page S7 of the prospectus supplement and "Selected
Risk Considerations" beginning on page PS-11 of this pricing supplement.
We may use this pricing supplement in the initial sale of the Notes. In addition, Barclays Capital Inc. or any other of our affiliates may use
this pricing supplement in market resale transactions in any Notes after their initial sale. Unless we or our agent informs you otherwise in
the confirmation of sale, this pricing supplement is being used in a market resale transaction.
The Notes will not be listed on any U.S. securities exchange or quotation system. Neither the U.S. Securities and Exchange Commission
(the "SEC") nor any state securities commission has approved or disapproved of these Notes or determined that this pricing supplement is
truthful or complete. Any representation to the contrary is a criminal offense.
The Notes constitute our unsecured and unsubordinated obligations. The Notes are not deposit liabilities of Barclays Bank PLC and are not
covered by the U.K. Financial Services Compensation Scheme or insured by the U.S. Federal Deposit Insurance Corporation or any other
governmental agency or deposit insurance agency of the United States, the United Kingdom or any other jurisdiction.

PS-1

(Terms of the Notes continued from previous page)
Coupon Barrier Value:
With respect to each Underlier, 70.00% of its Initial Underlier Value (rounded to two decimal places), as set forth in
the table above
Barrier Value:
With respect to each Underlier, 70.00% of its Initial Underlier Value (rounded to two decimal places), as set forth in
the table above
Initial Underlier Value:
With respect to each Underlier, the Closing Value of that Underlier on the Initial Valuation Date, as set forth in the
table above
Final Underlier Value:
With respect to each Underlier, the Closing Value of that Underlier on the Final Valuation Date
Least Performing Underlier: The Underlier with the lowest Underlier Return
Underlier Return:
With respect to each Underlier, an amount calculated as follows:
Final Underlier Value Initial Underlier Value
Initial Underlier Value
Observation Dates:
The 28th calendar day of each January, April, July and October during the term of the Notes, beginning in April
2020, provided that the final Observation Date will be the Final Valuation Date
Contingent Coupon
With respect to any Observation Date, the fifth business day after such Observation Date, provided that the
Payment Dates:
Contingent Coupon Payment Date with respect to the Final Valuation Date will be the Maturity Date
Closing Value:*
Closing Value has the meaning assigned to "closing level" set forth under "Reference Assets--Indices--Special
Calculation Provisions" in the prospectus supplement, rounded to two decimal places (if applicable).
Calculation Agent:
Barclays Bank PLC
CUSIP / ISIN:
06747NZB3 / US06747NZB36
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*
If an Underlier is discontinued or if the sponsor of an Underlier fails to publish that Underlier, the Calculation Agent may select a successor
index or, if no successor index is available, will calculate the value to be used as the Closing Value of that Underlier. In addition, the
Calculation Agent will calculate the value to be used as the Closing Value of an Underlier in the event of certain changes in or modifications
to that Underlier. For more information, see "Reference Assets--Indices--Adjustments Relating to Securities with an Index as a Reference
Asset" in the accompanying prospectus supplement.

Each Observation Date may be postponed if that Observation Date is not a scheduled trading day with respect to any Underlier or if a market
disruption event occurs with respect to any Underlier on that Observation Date as described under "Reference Assets--Indices--Market
Disruption Events for Securities with an Index of Equity Securities as a Reference Asset" and "Reference Assets--Least or Best Performing
Reference Asset--Scheduled Trading Days and Market Disruption Events for Securities Linked to the Reference Asset with the Lowest or
Highest Return in a Group of Two or More Equity Securities, Exchange-Traded Funds and/or Indices of Equity Securities" in the
accompanying prospectus supplement. In addition, the Maturity Date will be postponed if that day is not a business day or if the Final
Valuation Date is postponed as described under "Terms of the Notes--Payment Dates" in the accompanying prospectus supplement.

PS-2

ADDITIONAL DOCUMENTS RELATED TO THE OFFERING OF THE NOTES

You should read this pricing supplement together with the prospectus dated August 1, 2019, as supplemented by the prospectus supplement dated
August 1, 2019 relating to our Global Medium-Term Notes, Series A, of which these Notes are a part, and the underlying supplement dated August
1, 2019. This pricing supplement, together with the documents listed below, contains the terms of the Notes and supersedes all prior or
contemporaneous oral statements as well as any other written materials including preliminary or indicative pricing terms, correspondence, trade
ideas, structures for implementation, sample structures, brochures or other educational materials of ours. You should carefully consider, among
other things, the matters set forth under "Risk Factors" in the prospectus supplement and "Selected Risk Considerations" in this pricing
supplement, as the Notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax,
accounting and other advisors before you invest in the Notes.

You may access these documents on the SEC website at www.sec.gov as follows (or if such address has changed, by reviewing our filings for the
relevant date on the SEC website):

·
Prospectus dated August 1, 2019:
http://www.sec.gov/Archives/edgar/data/312070/000119312519210880/d756086d424b3.htm

·
Prospectus Supplement dated August 1, 2019:
http://www.sec.gov/Archives/edgar/data/312070/000095010319010190/dp110493_424b2-prosupp.htm

·
Underlying Supplement dated August 1, 2019:
http://www.sec.gov/Archives/edgar/data/312070/000095010319010191/dp110497_424b2-underlying.htm

Our SEC file number is 110257. As used in this pricing supplement, "we," "us" and "our" refer to Barclays Bank PLC.

PS-3

CONSENT TO U.K. BAIL-IN POWER

Notwithstanding any other agreements, arrangements or understandings between us and any holder or beneficial owner of the Notes, by
acquiring the Notes, each holder and beneficial owner of the Notes acknowledges, accepts, agrees to be bound by, and consents to the
exercise of, any U.K. Bail-in Power by the relevant U.K. resolution authority.

Under the U.K. Banking Act 2009, as amended, the relevant U.K. resolution authority may exercise a U.K. Bail-in Power in circumstances in
which the relevant U.K. resolution authority is satisfied that the resolution conditions are met. These conditions include that a U.K. bank or
investment firm is failing or is likely to fail to satisfy the Financial Services and Markets Act 2000 (the "FSMA") threshold conditions for
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authorization to carry on certain regulated activities (within the meaning of section 55B FSMA) or, in the case of a U.K. banking group company
that is a European Economic Area ("EEA") or third country institution or investment firm, that the relevant EEA or third country relevant authority
is satisfied that the resolution conditions are met in respect of that entity.

The U.K. Bail-in Power includes any write-down, conversion, transfer, modification and/or suspension power, which allows for (i) the reduction
or cancellation of all, or a portion, of the principal amount of, interest on, or any other amounts payable on, the Notes; (ii) the conversion of all, or a
portion, of the principal amount of, interest on, or any other amounts payable on, the Notes into shares or other securities or other obligations of
Barclays Bank PLC or another person (and the issue to, or conferral on, the holder or beneficial owner of the Notes such shares, securities or
obligations); and/or (iii) the amendment or alteration of the maturity of the Notes, or amendment of the amount of interest or any other amounts due
on the Notes, or the dates on which interest or any other amounts become payable, including by suspending payment for a temporary period; which
U.K. Bail-in Power may be exercised by means of a variation of the terms of the Notes solely to give effect to the exercise by the relevant U.K.
resolution authority of such U.K. Bail-in Power. Each holder and beneficial owner of the Notes further acknowledges and agrees that the rights of
the holders or beneficial owners of the Notes are subject to, and will be varied, if necessary, solely to give effect to, the exercise of any U.K. Bail-
in Power by the relevant U.K. resolution authority. For the avoidance of doubt, this consent and acknowledgment is not a waiver of any rights
holders or beneficial owners of the Notes may have at law if and to the extent that any U.K. Bail-in Power is exercised by the relevant U.K.
resolution authority in breach of laws applicable in England.

For more information, please see "Selected Risk Considerations--You May Lose Some or All of Your Investment If Any U.K. Bail-in Power Is
Exercised by the Relevant U.K. Resolution Authority" in this pricing supplement as well as "U.K. Bail-in Power," "Risk Factors--Risks Relating
to the Securities Generally--Regulatory action in the event a bank or investment firm in the Group is failing or likely to fail could materially
adversely affect the value of the securities" and "Risk Factors--Risks Relating to the Securities Generally--Under the terms of the securities, you
have agreed to be bound by the exercise of any U.K. Bail-in Power by the relevant U.K. resolution authority" in the accompanying prospectus
supplement.

PS-4

ADDITIONAL INFORMATION REGARDING OUR ESTIMATED VALUE OF THE NOTES

Our internal pricing models take into account a number of variables and are based on a number of subjective assumptions, which may or may not
materialize, typically including volatility, interest rates and our internal funding rates. Our internal funding rates (which are our internally
published borrowing rates based on variables such as market benchmarks, our appetite for borrowing, and our existing obligations coming to
maturity) may vary from the levels at which our benchmark debt securities trade in the secondary market. Our estimated value on the Initial
Valuation Date is based on our internal funding rates. Our estimated value of the Notes might be lower if such valuation were based on the levels at
which our benchmark debt securities trade in the secondary market.

Our estimated value of the Notes on the Initial Valuation Date is less than the initial issue price of the Notes. The difference between the initial
issue price of the Notes and our estimated value of the Notes results from several factors, including any sales commissions to be paid to Barclays
Capital Inc. or another affiliate of ours, any selling concessions, discounts, commissions or fees to be allowed or paid to non-affiliated
intermediaries, the estimated profit that we or any of our affiliates expect to earn in connection with structuring the Notes, the estimated cost that
we may incur in hedging our obligations under the Notes, and estimated development and other costs that we may incur in connection with the
Notes.

Our estimated value on the Initial Valuation Date is not a prediction of the price at which the Notes may trade in the secondary market, nor will it
be the price at which Barclays Capital Inc. may buy or sell the Notes in the secondary market. Subject to normal market and funding conditions,
Barclays Capital Inc. or another affiliate of ours intends to offer to purchase the Notes in the secondary market but it is not obligated to do so.

Assuming that all relevant factors remain constant after the Initial Valuation Date, the price at which Barclays Capital Inc. may initially buy or sell
the Notes in the secondary market, if any, and the value that we may initially use for customer account statements, if we provide any customer
account statements at all, may exceed our estimated value on the Initial Valuation Date for a temporary period expected to be approximately six
months after the Issue Date because, in our discretion, we may elect to effectively reimburse to investors a portion of the estimated cost of hedging
our obligations under the Notes and other costs in connection with the Notes that we will no longer expect to incur over the term of the Notes. We
made such discretionary election and determined this temporary reimbursement period on the basis of a number of factors, which may include the
tenor of the Notes and/or any agreement we may have with the distributors of the Notes. The amount of our estimated costs that we effectively
reimburse to investors in this way may not be allocated ratably throughout the reimbursement period, and we may discontinue such reimbursement
at any time or revise the duration of the reimbursement period after the initial Issue Date of the Notes based on changes in market conditions and
other factors that cannot be predicted.

We urge you to read the "Selected Risk Considerations" beginning on page PS-11 of this pricing supplement.

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PS-5

SELECTED PURCHASE CONSIDERATIONS

The Notes are not suitable for all investors. The Notes may be a suitable investment for you if all of the following statements are true:

·
You do not seek an investment that produces fixed periodic interest or coupon payments or other non-contingent sources of current
income, and you can tolerate receiving few or no Contingent Coupons over the term of the Notes in the event the Closing Value of any
Underlier falls below its Coupon Barrier Value on one or more of the specified Observation Dates.

·
You understand and accept that you will not participate in any appreciation of any Underlier, which may be significant, and that your
return potential on the Notes is limited to the Contingent Coupons, if any, paid on the Notes.

·
You can tolerate a loss of a significant portion or all of your principal amount, and you are willing and able to make an investment that
may have the full downside market risk of an investment in the Least Performing Underlier.

·
You do not anticipate that the Closing Value of any Underlier will fall below its Coupon Barrier Value on any Observation Date or below
its Barrier Value on the Final Valuation Date.

·
You are willing and able to accept the individual market risk of each Underlier and understand that any decline in the value of one
Underlier will not be offset or mitigated by a lesser decline or any potential increase in the value of any other Underlier.

·
You understand and accept the risks that (a) you will not receive a Contingent Coupon if the Closing Value of any Underlier is less than
its Coupon Barrier Value on an Observation Date and (b) you will lose some or all of your principal at maturity if the Final Underlier
Value of any Underlier is less than its Barrier Value.

·
You understand and accept the risk that, if the Notes are not redeemed early by us, the payment at maturity, if any, will be based solely on
the Underlier Return of the Least Performing Underlier.

·
You understand and are willing and able to accept the risks associated with an investment linked to the performance of the Underliers.

·
You understand and accept that you will not be entitled to receive dividends or distributions that may be paid to holders of the securities
composing the Underliers, nor will you have any voting rights with respect to the securities composing the Underliers.

·
You are willing and able to accept the risk that we may, in our sole discretion, redeem the Notes early and that you may not be able to
reinvest your money in an alternative investment with comparable risk and yield.

·
You can tolerate fluctuations in the price of the Notes that may be similar to or exceed the downside fluctuations in the value of the
Underliers.

·
You do not seek an investment for which there will be an active secondary market, and you are willing and able to hold the Notes to
maturity if we do not exercise our early redemption option.

·
You are willing and able to assume our credit risk for all payments on the Notes.

·
You are willing and able to consent to the exercise of any U.K. Bail-in Power by any relevant U.K. resolution authority.

The Notes may not be a suitable investment for you if any of the following statements are true:

·
You seek an investment that produces fixed periodic interest or coupon payments or other non-contingent sources of current income,
and/or you cannot tolerate receiving few or no Contingent Coupons over the term of the Notes in the event the Closing Value of any
Underlier falls below its Coupon Barrier Value on one or more of the specified Observation Dates.

·
You seek an investment that participates in the full appreciation of any or all of the Underliers rather than an investment with a return that
is limited to the Contingent Coupons, if any, paid on the Notes.

·
You seek an investment that provides for the full repayment of principal at maturity, and/or you are unwilling or unable to accept the risk
that you may lose some or all of the principal amount of your Notes in the event that the Final Underlier Value of the Least Performing
Underlier falls below its Barrier Value.
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·
You anticipate that the Closing Value of at least one Underlier will decline during the term of the Notes such that the Closing Value of at
least one Underlier will fall below its Coupon Barrier Value on one or more Observation Dates and/or the Final Underlier Value of at
least one Underlier will fall below its Barrier Value.

·
You are unwilling or unable to accept the individual market risk of each Underlier and/or do not understand that any decline in the value
of one Underlier will not be offset or mitigated by a lesser decline or any potential increase in the value of any other Underlier.

·
You do not understand and/or are unwilling or unable to accept the risks associated with an investment linked to the performance of the
Underliers.

·
You are unwilling or unable to accept the risk that the negative performance of any Underlier may cause you to not receive Contingent
Coupons and/or suffer a loss of principal at maturity, regardless of the performance of any other Underlier.

·
You seek an investment that entitles you to dividends or distributions on, or voting rights related to, the securities composing the
Underliers.

·
You are unwilling or unable to accept the risk that we may redeem the Notes early.

·
You cannot tolerate fluctuations in the price of the Notes that may be similar to or exceed the downside fluctuations in the value of the
Underliers.

PS-6

·
You seek an investment for which there will be an active secondary market, and/or you are unwilling or unable to hold the Notes to
maturity if we do not exercise our early redemption option.

·
You prefer the lower risk, and therefore accept the potentially lower returns, of fixed income investments with comparable maturities and
credit ratings.

·
You are unwilling or unable to assume our credit risk for all payments on the Notes.

·
You are unwilling or unable to consent to the exercise of any U.K. Bail-in Power by any relevant U.K. resolution authority.

You must rely on your own evaluation of the merits of an investment in the Notes. You should reach a decision whether to invest in the Notes
after carefully considering, with your advisors, the suitability of the Notes in light of your investment objectives and the specific information set out
in this pricing supplement, the prospectus supplement, the prospectus and the underlying supplement. Neither the Issuer nor Barclays Capital Inc.
makes any recommendation as to the suitability of the Notes for investment.

PS-7

HYPOTHETICAL EXAMPLES OF AMOUNTS PAYABLE ON A SINGLE CONTINGENT COUPON PAYMENT DATE

The following examples demonstrate the circumstances under which you may receive a Contingent Coupon on a hypothetical Contingent Coupon
Payment Date. The numbers appearing in these tables are purely hypothetical and are provided for illustrative purposes only. These examples do
not take into account any tax consequences from investing in the Notes and make the following key assumptions:

Hypothetical Initial Underlier Value of each Underlier: 100.00*

Hypothetical Coupon Barrier Value for each Underlier: 70.00 (70.00% of the hypothetical Initial Underlier Value set forth above)*

*
The hypothetical Initial Underlier Value of 100.00 and the hypothetical Coupon Barrier Value of 70.00 for each Underlier have been chosen
for illustrative purposes only and do not represent the actual Initial Underlier Values or Coupon Barrier Values for the Underliers. The actual
Initial Underlier Value and Coupon Barrier Value for each Underlier are set forth on the cover of this pricing supplement.

For information regarding recent values of the Underliers, please see "Information Regarding the Underliers" in this pricing supplement.

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Example 1: The Closing Value of each Underlier is greater than its Coupon Barrier Value on the relevant Observation Date.

Closing Value on Relevant
Underlier
Observation Date
INDU Index
105.00
RTY Index
85.00
SPX Index
150.00

Because the Closing Value of each Underlier is greater than its respective Coupon Barrier Value, you will receive a Contingent Coupon of $15.00
(1.50% of the principal amount per Note) on the related Contingent Coupon Payment Date.

Example 2: The Closing Value of one Underlier is less than its Coupon Barrier Value on the relevant Observation Date, and the Closing Value of
each other Underlier is greater than its Coupon Barrier Value on the relevant Observation Date.

Closing Value on Relevant
Underlier
Observation Date
INDU Index
140.00
RTY Index
40.00
SPX Index
85.00

Because the Closing Value of at least one Underlier is less than its Coupon Barrier Value, you will not receive a Contingent Coupon on the related
Contingent Coupon Payment Date.

Example 3: The Closing Value of each Underlier is less than its Coupon Barrier Value on the relevant Observation Date.

Closing Value on Relevant
Underlier
Observation Date
INDU Index
45.00
RTY Index
55.00
SPX Index
40.00

Because the Closing Value of at least one Underlier is less than its Coupon Barrier Value, you will not receive a Contingent Coupon on the related
Contingent Coupon Payment Date.

Examples 2 and 3 demonstrate that you may not receive a Contingent Coupon on a Contingent Coupon Payment Date. If the Closing Value of any
Underlier is below its Coupon Barrier Value on each Observation Date, you will not receive any Contingent Coupons during the term of the
Notes.

PS-8

HYPOTHETICAL EXAMPLES OF AMOUNTS PAYABLE AT MATURITY

The following table illustrates the hypothetical payment at maturity under various circumstances. The examples set forth below are purely
hypothetical and are provided for illustrative purposes only. The numbers appearing in the following table and examples have been rounded for
ease of analysis. The hypothetical examples below do not take into account any tax consequences from investing in the Notes and make the
following key assumptions:

Hypothetical Initial Underlier Value of each Underlier: 100.00*

Hypothetical Coupon Barrier Value for each Underlier: 70.00 (70.00% of the hypothetical Initial Underlier Value set forth above)*

Hypothetical Barrier Value for each Underlier: 70.00 (70.00% of the hypothetical Initial Underlier Value set forth above)*

You hold the Notes to maturity, and we do NOT exercise our option to redeem the Notes early.

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*
The hypothetical Initial Underlier Value of 100.00, the hypothetical Coupon Barrier Value of 70.00 and the hypothetical Barrier Value of
70.00 for each Underlier have been chosen for illustrative purposes only and do not represent the actual Initial Underlier Values, Coupon
Barrier Values or Barrier Values for the Underliers. The actual Initial Underlier Value, Coupon Barrier Value and Barrier Value for each
Underlier are set forth on the cover of this pricing supplement.

Final Underlier Value of
Underlier Return of
Payment at Maturity**
the Least Performing Underlier
the Least Performing Underlier
150.00
50.00%
$1,000.00
140.00
40.00%
$1,000.00
130.00
30.00%
$1,000.00
120.00
20.00%
$1,000.00
110.00
10.00%
$1,000.00
100.00
0.00%
$1,000.00
90.00
-10.00%
$1,000.00
80.00
-20.00%
$1,000.00
70.00
-30.00%
$1,000.00
69.99
-30.01%
$699.90
60.00
-40.00%
$600.00
50.00
-50.00%
$500.00
40.00
-60.00%
$400.00
30.00
-70.00%
$300.00
20.00
-80.00%
$200.00
10.00
-90.00%
$100.00
0.00
-100.00%
$0.00

** per $1,000 principal amount Note, excluding the final Contingent Coupon that may be payable on the Maturity Date

The following examples illustrate how the payments at maturity set forth in the table above are calculated:

Example 1: The Final Underlier Value of the INDU Index is 150.00, the Final Underlier Value of the RTY Index is 130.00 and the Final
Underlier Value of the SPX Index is 140.00.

Because the RTY Index has the lowest Underlier Return, the RTY Index is the Least Performing Underlier. Because the Final Underlier Value of
the Least Performing Underlier is greater than or equal to its Barrier Value, you will receive a payment at maturity of $1,000 per $1,000 principal
amount Note that you hold (plus the Contingent Coupon otherwise due).

Example 1 demonstrates that you will not participate in any appreciation in the value of any Underlier. Even though each Underlier appreciated
significantly, the payment at maturity is limited to $1,000 per $1,000 principal amount Note that you hold (plus the Contingent Coupon otherwise
due).

Example 2: The Final Underlier Value of the INDU Index is 75.00, the Final Underlier Value of the RTY Index is 140.00 and the Final
Underlier Value of the SPX Index is 95.00.

Because the INDU Index has the lowest Underlier Return, the INDU Index is the Least Performing Underlier. Because the Final Underlier Value of
the Least Performing Underlier is greater than or equal to its Barrier Value, you will receive a payment at maturity of $1,000 per $1,000 principal
amount Note that you hold (plus the Contingent Coupon otherwise due).

PS-9

Example 3: The Final Underlier Value of the INDU Index is 80.00, the Final Underlier Value of the RTY Index is 40.00 and the Final
Underlier Value of the SPX Index is 150.00.

Because the RTY Index has the lowest Underlier Return, the RTY Index is the Least Performing Underlier. Because the Final Underlier Value of
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the Least Performing Underlier is less than its Barrier Value, you will receive a payment at maturity of $400.00 per $1,000 principal amount Note
that you hold, calculated as follows:

$1,000 + ($1,000 × Underlier Return of the Least Performing Underlier)

$1,000 + ($1,000 ×-60.00%) = $400.00

In addition, because the Final Underlier Value of at least one Underlier is less than its Coupon Barrier Value, you will not receive a Contingent
Coupon on the Maturity Date.

Example 3 demonstrates that, if we do not redeem the Notes early, and if the Final Underlier Value of the Least Performing Underlier is less than
its Barrier Value, your investment in the Notes will be fully exposed to the decline of the Least Performing Underlier from its Initial Underlier
Value. You will not benefit in any way from the Underlier Return of any other Underlier being higher than the Underlier Return of the Least
Performing Underlier.

If we do not redeem the Notes early, you may lose up to 100.00% of the principal amount of your Notes. Any payment on the Notes, including
the repayment of principal, is subject to the credit risk of Barclays Bank PLC.

PS-10

SELECTED RISK CONSIDERATIONS

An investment in the Notes involves significant risks. Investing in the Notes is not equivalent to investing directly in the Underliers or their
components. Some of the risks that apply to an investment in the Notes are summarized below, but we urge you to read the more detailed
explanation of risks relating to the Notes generally in the "Risk Factors" section of the prospectus supplement. You should not purchase the Notes
unless you understand and can bear the risks of investing in the Notes.

·
Your Investment in the Notes May Result in a Significant Loss--The Notes differ from ordinary debt securities in that the Issuer will not
necessarily repay the full principal amount of the Notes at maturity. If the Notes are not redeemed early by us, and if the Final Underlier Value
of the Least Performing Underlier is less than its Barrier Value, your Notes will be fully exposed to the decline of the Least Performing
Underlier from its Initial Underlier Value. You may lose up to 100.00% of the principal amount of your Notes.

·
You May Not Receive Any Contingent Coupon Payments on the Notes--The Issuer will not necessarily make periodic coupon payments
on the Notes. You will receive a Contingent Coupon on a Contingent Coupon Payment Date only if the Closing Value of each Underlier on the
related Observation Date is greater than or equal to its Coupon Barrier Value. If the Closing Value of any Underlier on an Observation Date is
less than its Coupon Barrier Value, you will not receive a Contingent Coupon on the related Contingent Coupon Payment Date. If the Closing
Value of at least one Underlier is less than its Coupon Barrier Value on each Observation Date, you will not receive any Contingent Coupons
during the term of the Notes.

·
Your Potential Return on the Notes Is Limited to the Contingent Coupons, if Any, and You Will Not Participate in Any Appreciation
of Any Underlier--The potential positive return on the Notes is limited to the Contingent Coupons, if any, that may be payable during the
term of the Notes. You will not participate in any appreciation in the value of any Underlier, which may be significant, even though you will
be exposed to the depreciation in the value of the Least Performing Underlier if the Notes are not redeemed early by us and the Final Underlier
Value of the Least Performing Underlier is less than its Barrier Value.

·
Because the Notes Are Linked to the Least Performing Underlier, You Are Exposed to Greater Risks of No Contingent Coupons and
Sustaining a Significant Loss of Principal at Maturity Than if the Notes Were Linked to a Single Underlier--The risk that you will not
receive any Contingent Coupons and lose a significant portion or all of your principal amount in the Notes at maturity is greater if you invest
in the Notes as opposed to substantially similar securities that are linked to the performance of a single Underlier. With multiple Underliers, it
is more likely that the Closing Value of at least one Underlier will be less than its Coupon Barrier Value on the specified Observation Dates or
less than its Barrier Value on the Final Valuation Date, and therefore, it is more likely that you will not receive any Contingent Coupons and
that you will suffer a significant loss of principal at maturity. Further, the performance of the Underliers may not be correlated or may be
negatively correlated. The lower the correlation between multiple Underliers, the greater the potential for one of those Underliers to close
below its Coupon Barrier Value or Barrier Value on an Observation Date or the Final Valuation Date, respectively.

It is impossible to predict what the correlation among the Underliers will be over the term of the Notes. The Underliers represent different
equity markets. These different equity markets may not perform similarly over the term of the Notes.

Although the correlation of the Underliers' performance may change over the term of the Notes, the Contingent Coupon rate is determined, in
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part, based on the correlation of the Underliers' performance calculated using our internal models at the time when the terms of the Notes are
finalized. A higher Contingent Coupon is generally associated with lower correlation of the Underliers, which reflects a greater potential for
missed Contingent Coupons and for a loss of principal at maturity.

·
You Are Exposed to the Market Risk of Each Underlier--Your return on the Notes is not linked to a basket consisting of the Underliers.
Rather, it will be contingent upon the independent performance of each Underlier. Unlike an instrument with a return linked to a basket of
underlying assets in which risk is mitigated and diversified among all the components of the basket, you will be exposed to the risks related to
each Underlier. Poor performance by any Underlier over the term of the Notes may negatively affect your return and will not be offset or
mitigated by any increases or lesser declines in the value of the other Underliers. To receive a Contingent Coupon, the Closing Value of each
Underlier must be greater than or equal to its Coupon Barrier Value on the applicable Observation Date. In addition, if the Notes have not
been redeemed early by us, and if the Final Underlier Value of any Underlier is less than its Barrier Value, you will be exposed to the full
decline in the Least Performing Underlier from its Initial Underlier Value. Accordingly, your investment is subject to the market risk of each
Underlier.

·
The Notes Are Subject to Volatility Risk--Volatility is a measure of the degree of variation in the price of an asset (or level of an index)
over a period of time. The Contingent Coupon is based on a number of factors, including the expected volatility of the Underliers. The
Contingent Coupon will be paid at a per annum rate that is higher than the fixed rate that we would pay on a conventional debt security of the
same tenor and is higher than it otherwise would have been had the expected volatility of the Underliers been lower. As volatility of an
Underlier increases, there will typically be a greater likelihood that (a) the Closing Value of that Underlier on one or more Observation Dates
will be less than its Coupon Barrier Value and (b) the Final Underlier Value of that Underlier will be less than its Barrier Value.

Accordingly, you should understand that a higher Contingent Coupon reflects, among other things, an indication of a greater likelihood that
you will (a) not receive Contingent Coupons with respect to one or more Observation Dates and/or (b) incur a loss of principal at maturity
than would have been the case had the Contingent Coupon been lower. In addition, actual volatility over the term of the Notes may be
significantly higher than expected volatility at the time the terms of the Notes were determined. If actual volatility is higher than expected, you
will face an even greater risk that you will not receive Contingent Coupons and/or that you will lose some or all of your principal at maturity
for the reasons described above.

PS-11

·
Issuer Call and Reinvestment Risk--We may redeem your Notes (in whole but not in part) at our sole discretion without your consent on
any Contingent Coupon Payment Date (other than the final Contingent Coupon Payment Date), beginning with the Contingent Coupon
Payment Date following the fourth Observation Date, regardless of the Closing Value of any Underlier on any day on or prior to that
Contingent Coupon Payment Date and without taking your interests into account. If we elect to redeem the Notes early, the holding period
over which you may receive Contingent Coupons could be as short as approximately one year.

The payment upon early redemption, together with any Contingent Coupons that you may have received on prior Contingent Coupon Payment
Dates, may be less than the aggregate amount of payments that you would have received had we not redeemed the Notes early. There is no
guarantee that you would be able to reinvest the proceeds from an investment in the Notes in a comparable investment with a similar level of
risk in the event the Notes are redeemed at our election prior to the Maturity Date. No additional payments will be due after early redemption.
Our right to redeem the Notes may also adversely impact your ability to sell your Notes and the price at which they may be sold.

It is more likely that we will redeem the Notes at our sole discretion prior to maturity to the extent that the expected interest payable on the
Notes is greater than the interest that would be payable on other instruments issued by us of comparable maturity, terms and credit rating
trading in the market. We are less likely to call the Notes prior to maturity when the expected interest payable on the Notes is less than the
interest that would be payable on other comparable instruments issued by us, which includes when the level of any Underlier is less than its
Coupon Barrier Value. Therefore, the Notes are more likely to remain outstanding when the expected interest payable on the Notes is less than
what would be payable on other comparable instruments and when your risk of not receiving a Contingent Coupon is relatively higher.

·
If the Notes Are Not Redeemed Early by Us, the Payment at Maturity, If Any, Is Based Solely on the Closing Value of the Least
Performing Underlier on the Final Valuation Date--If we do not redeem the Notes early, the Final Underlier Values (and resulting
Underlier Returns) will be based solely on the Closing Values of the Underliers on the Final Valuation Date, and your payment at maturity, if
any, will be determined based solely on the performance of the Least Performing Underlier. Accordingly, if the value of the Least Performing
Underlier drops on the Final Valuation Date, the payment at maturity on the Notes, if any, may be significantly less than it would have been
had it been linked to the value of the Underlier at any time prior to such drop. If the Final Underlier Value of the Least Performing Underlier
is less than its Barrier Value, you will lose some or all of the principal amount of your Notes. Your losses will not be offset in any way by
virtue of the Underlier Return of any other Underlier being higher than the Underlier Return of the Least Performing Underlier.

·
Credit of Issuer--The Notes are unsecured and unsubordinated debt obligations of the Issuer, Barclays Bank PLC, and are not, either directly
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