Obbligazione Barclay PLC 0% ( US06747F5641 ) in USD

Emittente Barclay PLC
Prezzo di mercato 20.627 USD  ▲ 
Paese  Regno Unito
Codice isin  US06747F5641 ( in USD )
Tasso d'interesse 0%
Scadenza 05/03/2025 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Barclays PLC US06747F5641 in USD 0%, scaduta


Importo minimo /
Importo totale /
Cusip 06747F564
Descrizione dettagliata Barclays PLC è una banca multinazionale britannica che offre una vasta gamma di servizi finanziari a clienti privati, aziende e istituzioni in tutto il mondo.

The Obbligazione issued by Barclay PLC ( United Kingdom ) , in USD, with the ISIN code US06747F5641, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 05/03/2025







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424B2 1 dp122865_424b2-2896ms.htm FORM 424B2
February 2020
Registration Statement No. 333-232144
Pricing Supplement dated February 28, 2020
Filed pursuant to Rule 424(b)(2)
STRUCTURED INVESTMENTS
Opportunities in U.S. Equities
Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5,
2025
Principal at Risk Securities
Unlike conventional debt securities, the securities wil pay no interest and do not guarantee any return of principal at
maturity. Instead, if the final underlier value is greater than or equal to the initial underlier value, at maturity investors wil
receive the stated principal amount plus a positive return equal to the greater of a fixed percentage of 25.40%, and the
upside performance of the underlier. If the final underlier value is less than the initial underlier value but greater than or
equal to the trigger value, which is equal to 80% of the initial underlier value, at maturity investors wil receive the stated
principal amount plus an unleveraged positive return equal to the absolute value of the percentage decline of the underlier
from the initial underlier value. Because the trigger value is 20% less than the initial underlier value, any positive return in
the event that the final underlier value is less than the initial underlier value is limited to 20%. However, if the final underlier
value is less than the trigger value, at maturity investors wil lose 1% of the stated principal amount for every 1% that the
final underlier value is less than the initial underlier value. Under these circumstances, the amount investors receive wil be
less than 80% of the stated principal amount and could be zero. The securities are for investors who seek an equity index-
based return and who are wil ing and able to risk their principal and forgo current income in exchange for the opportunity to
receive a return equal to at least the fixed percentage if the final underlier value is greater than or equal to the initial
underlier value and the absolute value return feature, which applies only if the final underlier value is less than the initial
underlier value and greater than or equal to the trigger value. Investors may lose their entire initial investment in the
securities. The securities are unsecured and unsubordinated debt obligations of Barclays Bank PLC. Any
payment on the securities, including any repayment of principal, is subject to the creditworthiness of Barclays
Bank PLC and is not guaranteed by any third party. If Barclays Bank PLC were to default on its payment
obligations or become subject to the exercise of any U.K. Bail-in Power (as described on page 5 of this document)
by the relevant U.K. resolution authority, you might not receive any amounts owed to you under the securities.
See "Risk Factors" and "Consent to U.K. Bail-in Power" in this document and "Risk Factors" in the
accompanying prospectus supplement.
FINAL TERMS

Issuer:
Barclays Bank PLC
Reference asset*:
S&P 500® Index (Bloomberg ticker symbol "SPX<Index>") (the "underlier")
Aggregate principal
$19,924,950
amount:
Stated principal amount:
$10 per security
Initial issue price:
$10 per security (see "Commissions and initial issue price" below)
Pricing date:
February 28, 2020
Original issue date:
March 4, 2020
Valuation date:
February 28, 2025
Maturity date:
March 5, 2025
Interest:
None
Payment at maturity:
You wil receive on the maturity date a cash payment per security determined as fol ows:
· If the final underlier value is greater than or equal to the initial underlier value:
$10 + ($10 × the greater of (i) fixed percentage and (i ) underlier return)
· If the final underlier value is less than the initial underlier value but greater than or equal
to the trigger value:
$10 + ($10 × absolute value return)
In this scenario, you wil receive a positive 1% return on the securities for each negative
1% decrease of the underlier. In no event wil this amount exceed the stated principal
amount plus $2.00.
· If the final underlier value is less than the trigger value:
$10 × underlier performance factor
Under these circumstances, the payment at maturity wil be less than the stated principal
amount of $10 and wil represent a loss of more than 20%, and possibly al , of an investor's
initial investment. Investors may lose their entire initial investment in the securities.
Any payment on the securities, 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 by the relevant U.K.
resolution authority.
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U.K. Bail-in Power
Notwithstanding any other agreements, arrangements or understandings between
acknowledgment:
Barclays Bank PLC and any holder or beneficial owner of the securities, by acquiring the
securities, each holder and beneficial owner of the securities 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 5 of this
document.
Fixed percentage:
25.40%
Trigger value:
2,363.38, which is 80% of the initial underlier value (rounded to two decimal places)

(terms continued on the next page)
Commissions and initial
Initial issue
Price to public(1)
Agent's
Proceeds to issuer
issue price:
price(1)
commissions
Per security
$10
$10
$0.30(2)
$9.65
$0.05(3)
Total
$19,924,950.00
$19,924,950.00
$697,373.25
$19,227,576.75
(1)
Our estimated value of the securities on the pricing date, based on our internal pricing models, is $9.444 per
security. The estimated value is less than the initial issue price of the securities. See "Additional Information
Regarding Our Estimated Value of the Securities" on page 4 of this document.
(2)
Morgan Stanley Wealth Management and its financial advisors will collectively receive from the agent,
Barclays Capital Inc., a fixed sales commission of $0.30 for each security they sell. See "Supplemental Plan
of Distribution" in this document.
(3)
Reflects a structuring fee payable to Morgan Stanley Wealth Management by the agent or its affiliates of
$0.05 for each security.
One or more of our affiliates may purchase up to 15% of the aggregate principal amount of the securities and hold such
securities for investment for a period of at least 30 days. Accordingly, the total principal amount of the securities may
include a portion that was not purchased by investors on the original issue date. Any unsold portion held by our affiliate(s)
may affect the supply of securities available for secondary trading and, therefore, could adversely affect the price of the
securities in the secondary market. Circumstances may occur in which our interests or those of our affiliates could be in
conflict with your interests.
Investing in the securities involves risks not associated with an investment in conventional debt securities. See
"Risk Factors" beginning on page 11 of this document and on page S-7 of the prospectus supplement. You
should read this document together with the related prospectus, prospectus supplement and underlying
supplement, each of which can be accessed via the hyperlinks below, before you make an investment decision.
The securities 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 the
securities or determined that this document is truthful or complete. Any representation to the contrary is a
criminal offense.
We may use this document in the initial sale of the securities. In addition, Barclays Capital Inc. or another of our
affiliates may use this document in market resale transactions in any of the securities after their initial sale.
Unless we or our agent informs you otherwise in the confirmation of sale, this document is being used in a market
resale transaction.
The securities constitute our unsecured and unsubordinated obligations. The securities 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.
Prospectus dated August 1,
Prospectus Supplement dated August
Underlying Supplement dated August
2019
1, 2019
1, 2019


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Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5, 2025
Principal at Risk Securities
Terms continued from previous page:
Underlier return:
(final underlier value ­ initial underlier value) / initial underlier value
Absolute value return:
The absolute value of the underlier return. For example, a -5% underlier return wil result in
a +5% absolute value return.
Underlier performance
final underlier value / initial underlier value
factor:
Initial underlier value:
2,954.22, which is the closing level of the underlier on the pricing date
Final underlier value:
The closing level of the underlier on the valuation date
Closing level*:
Closing level has the meaning set forth under "Reference Assets--Indices--Special
Calculation Provisions" in the prospectus supplement.
Additional terms:
Terms used in this document, but not defined herein, wil have the meanings ascribed to
them in the prospectus supplement.
CUSIP / ISIN:
06747F564 / US06747F5641
Listing:
The securities wil not be listed on any securities exchange.
Selected dealer:
Morgan Stanley Wealth Management ("MSWM")

*
If the underlier is discontinued or if the sponsor of the underlier fails to publish the underlier, the calculation agent may
select a successor index or, if no successor index is available, wil calculate the value to be used as the closing level of
the underlier. In addition, the calculation agent wil calculate the value to be used as the closing level of the underlier in
the event of certain changes in or modifications to the underlier. For more information, see "Reference Assets--Indices
--Adjustments Relating to Securities with an Index as a Reference Asset" in the accompanying prospectus
supplement.

The valuation date may be postponed if the valuation date is not a scheduled trading day or if a market disruption
event occurs on the valuation date as described under "Reference Assets--Indices--Market Disruption Events for
Securities with an Index of Equity Securities as a Reference Asset" in the accompanying prospectus supplement. In
addition, the maturity date wil be postponed if that day is not a business day or if the valuation date is postponed as
described under "Terms of the Notes--Payment Dates" in the accompanying prospectus supplement.

Barclays Capital Inc.


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Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5, 2025
Principal at Risk Securities
Additional Terms of the Securities

You should read this document 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 the securities are a part,
and the underlying supplement dated August 1, 2019. This document, together with the documents listed below, contains
the terms of the securities and supersedes al prior or contemporaneous oral statements as wel 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 careful y consider, among other things, the
matters set forth under "Risk Factors" in the prospectus supplement, as the securities 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 securities.

You may access these documents on the SEC website at www.sec.gov as fol ows (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 1-10257 and our Central Index Key, or CIK, on the SEC website is 0000312070. As used in this
document, "we," "us" and "our" refer to Barclays Bank PLC.

In connection with this offering, Morgan Stanley Wealth Management is acting in its capacity as a selected dealer.


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Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5, 2025
Principal at Risk Securities
Additional Information Regarding Our Estimated Value of the Securities

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, typical y including volatility, interest rates and our internal funding rates. Our internal
funding rates (which are our internal y 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 pricing date is based on our internal funding
rates. Our estimated value of the securities 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 securities on the pricing date is less than the initial issue price of the securities. The difference
between the initial issue price of the securities and our estimated value of the securities results from several factors,
including any sales commissions to be paid to Barclays Capital Inc. or another affiliate of ours, any sel ing concessions,
discounts, commissions or fees to be al owed or paid to non-affiliated intermediaries, the estimated profit that we or any of
our affiliates expect to earn in connection with structuring the securities, the estimated cost that we may incur in hedging
our obligations under the securities, and estimated development and other costs that we may incur in connection with the
securities.

Our estimated value on the pricing date is not a prediction of the price at which the securities may trade in the secondary
market, nor wil it be the price at which Barclays Capital Inc. may buy or sel the securities 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 securities in the secondary market but it is not obligated to do so.

Assuming that al relevant factors remain constant after the pricing date, the price at which Barclays Capital Inc. may
initial y buy or sel the securities in the secondary market, if any, and the value that we may initial y use for customer
account statements, if we provide any customer account statements at al , may exceed our estimated value on the pricing
date for a temporary period expected to be approximately 40 days after the initial issue date of the securities because, in
our discretion, we may elect to effectively reimburse to investors a portion of the estimated cost of hedging our obligations
under the securities and other costs in connection with the securities that we wil no longer expect to incur over the term of
the securities. 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 securities and/or any agreement we may have with the distributors of
the securities. The amount of our estimated costs that we effectively reimburse to investors in this way may not be
al ocated 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 securities based on changes in market conditions
and other factors that cannot be predicted.

We urge you to read "Risk Factors" beginning on page 11 of this document.


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Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5, 2025
Principal at Risk Securities
Consent to U.K. Bail-in Power

Notwithstanding any other agreements, arrangements or understandings between us and any holder or beneficial
owner of the securities, by acquiring the securities, each holder and beneficial owner of the securities
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 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 al ows
for (i) the reduction or cancel ation of al , or a portion, of the principal amount of, interest on, or any other amounts payable
on, the securities; (i ) the conversion of al , or a portion, of the principal amount of, interest on, or any other amounts
payable on, the securities 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 securities such shares, securities or obligations); and/or
(i i) the amendment or alteration of the maturity of the securities, or amendment of the amount of interest or any other
amounts due on the securities, 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 securities 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 securities further acknowledges and agrees that the rights of the holders or
beneficial owners of the securities are subject to, and wil 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 securities 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 "Risk Factors--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 document 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.


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Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5, 2025
Principal at Risk Securities
Investment Summary

Dual Directional Trigger Jump Securities

Principal at Risk Securities

The Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5, 2025 (the
"securities") can be used:

§
As an alternative to direct exposure to the underlier that enhances returns for a certain range of positive performance
of the underlier

§
To enhance returns and potential y outperform the underlier in a moderately bul ish scenario

§
To achieve similar levels of upside exposure to the underlier as a direct investment

§
To provide an unleveraged positive return in the event of a decline of the underlier from the pricing date to the
valuation date, but only if the final underlier value is greater than or equal to the trigger value

If the final underlier value is less than the trigger value, the securities are exposed on a 1:1 basis to the negative
performance of the underlier.

Maturity:
Approximately 5 years
Fixed percentage:
25.40%
Trigger value:
80% of the initial underlier value
Minimum payment at maturity:
None. Investors may lose their entire initial investment in the securities.
Interest:
None

Key Investment Rationale

The securities are for investors who seek the opportunity to receive a minimum positive return equal to the fixed
percentage if the final underlier value is greater than or equal to the initial underlier value and 1:1 participation in any
appreciation of the underlier above the fixed percentage. The securities also offer the potential, through the absolute value
return feature, to receive a positive return at maturity for a limited range of negative performance of the underlier. In
exchange for these features, investors are exposed to the risk of loss of a significant portion or al of their investment at
maturity due to the trigger feature. Investors may lose their entire initial investment in the securities.

The fol owing scenarios reflect the potential payment on the securities, if any, at maturity:

Upside Scenario if
The final underlier value is greater than or equal to the initial underlier value. In this case, at
the Underlier
maturity, the securities pay the stated principal amount of $10 plus a positive return equal to the
Appreciates
greater of the fixed percentage of 25.40% and the underlier return.
Absolute Return
The final underlier value is less than the initial underlier value but greater than or equal to the
Scenario
trigger value. In this case, at maturity, the securities pay a positive 1% return for each negative 1%
decrease of the underlier. For example, if the final underlier value is 5% less than the initial
underlier value, the securities wil provide a total positive return of 5% at maturity. Because the
trigger value is 20% less than the initial underlier value, any positive return in the event that the
final underlier value is less than the initial underlier value is limited to 20%.
Downside Scenario
The final underlier value is less than the trigger value. In this case, at maturity, the securities pay
less than 80% of the stated principal amount and the percentage loss of the stated principal
amount wil be equal to the percentage decrease from the initial underlier value to the final
underlier value. For example, if the final underlier value is 55% less than the initial underlier value,
the securities wil pay $4.50 per security, or 45% of the stated principal amount, for a loss of 55%
of the stated principal amount. There is no minimum payment at maturity on the securities.
Accordingly, investors could lose their entire investment in the securities.

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Dual Directional Trigger Jump Securities Based on the Value of the S&P 500® Index due March 5, 2025
Principal at Risk Securities
Selected Purchase Considerations

The securities are not suitable for al investors. The securities may be a suitable investment for you if al of the fol owing
statements are true:

§
You do not seek an investment that produces periodic interest or coupon payments or other sources of current
income.

§
You anticipate that the final underlier value wil be greater than or equal to the initial underlier value or less than
the initial underlier value but greater than or equal to the trigger value, and you are wil ing and able to accept the
risk that, if the final underlier value is less than the trigger value, you wil lose a significant portion, and possibly al ,
of the stated principal amount.

§
You are wil ing and able to accept that the absolute return feature applies only if the underlier does not decrease
from the initial underlier value by more than 20%, that any positive return in the event that the final underlier value
is less than the initial underlier value is limited to 20% and that any decline in the final underlier value from the
initial underlier value by more than 20% wil result in a loss, rather than a positive return, on the securities.

§
You are wil ing and able to accept the risks associated with an investment linked to the performance of the
underlier, as explained in more detail in the "Risk Factors" section of this document.

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

§
You do not seek an investment for which there wil be an active secondary market and you are wil ing and able to
hold the securities to maturity.

§
You are wil ing and able to assume our credit risk for al payments on the securities.

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

The securities may not be a suitable investment for you if any of the fol owing statements are true:

§
You seek an investment that produces periodic interest or coupon payments or other sources of current income.

§
You seek an investment that provides for the ful repayment of principal at maturity.

§
You anticipate that the final underlier value wil be less than the trigger value, or you are unwil ing or unable to
accept the risk that, if it is, you wil lose a significant portion, and possibly al , of the stated principal amount.

§
You are unwil ing or unable to accept that the absolute return feature applies only if the underlier does not
decrease from the initial underlier value by more than 20%, that any positive return in the event that the final
underlier value is less than the initial underlier value is limited to 20% or that any decline in the final underlier value
from the initial underlier value by more than 20% wil result in a loss, rather than a positive return, on the securities

§
You are unwil ing or unable to accept the risks associated with an investment linked to the performance of the
underlier, as explained in more detail in the "Risk Factors" section of this document.

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

§
You seek an investment for which there wil be an active secondary market and/or you are unwil ing or unable to
hold the securities to maturity.

§
You are unwil ing or unable to assume our credit risk for al payments on the securities.

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

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


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