Obbligazione Barclay PLC 0% ( US06747PNQ80 ) in USD

Barclay PLC

100 USD ⇌

Regno Unito

US06747PNQ80 ( in USD )

21/04/2022 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Barclays PLC US06747PNQ80 in USD 0%, scaduta

1 000 USD

5 123 000 USD

06747PNQ8

N/A

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 US06747PNQ80, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 21/04/2022

424B2 1 a20-16126_5424b2.htm 424B2 - PB42 [BARC-AMERICAS.FID1141297]

Pricing Supplement dated April 15, 2020
Filed Pursuant to Rule 424(b)(2)
(To the Prospectus dated August 1, 2019, the Prospectus Supplement dated August 1, 2019 and the Underlying Supplement dated August 1, 2019)
Registration No. 333232144

$ 5 ,1 2 3 ,0 0 0
Ca lla ble Cont inge nt Coupon N ot e s due April 2 1 , 2 0 2 2
Link e d t o t he Le a st Pe rform ing of t he S& P 5 0 0 ® I nde x ,
t he Russe ll 2 0 0 0 ® I nde x a nd t he Dow J one s I ndust ria l Ave ra ge ®
Globa l M e dium -T e rm N ot e s , Se rie s A

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 Date:
April 15, 2020

Issue Date:
April 20, 2020

Final Valuation Date:*
April 18, 2022

Maturity Date:*
April 21, 2022

Reference Assets:
The S&P 500® Index (the "SPX Index"), the Russell 2000® Index (the "RTY Index") and the Dow Jones Industrial Average® (the
"INDU Index"), as set forth in the following table:

Reference Asset
Bloomberg Ticker
Initial Value
Coupon Barrier Value
Barrier Value

SPX Index
SPX <Index>
2,783.36
1,809.18
1,670.02

RTY Index
RTY <Index>
1,183.98
769.59
710.39

INDU Index
INDU <Index>
23,504.35
15,277.83
14,102.61

The SPX Index, the RTY Index and the INDU Index are each referred to herein as a "Reference Asset" and, collectively, as the
"Reference Assets."

Early Redemption at the
The Notes cannot be redeemed for the first three months after the Issue Date. We may redeem the Notes (in whole but not in part) at our
Option of the Issuer:
sole discretion without your consent at the Redemption Price set forth below on any Call Valuation Date. No further amounts will be
payable after they have been redeemed.

Payment at Maturity:
If the Notes are not redeemed prior to scheduled maturity, and if you hold the Notes to maturity, you will receive on the Maturity Date a
cash payment per $1,000 principal amount Note that you hold (in each case, in addition to any Contingent Coupon that may be payable
on such date) determined as follows:
If the Final Value of the Least Performing Reference Asset is greater than or equal to its Barrier Value, you will receive a
payment of $1,000 per $1,000 principal amount Note
If the Final Value of the Least Performing Reference Asset is less than its Barrier Value, you will receive an amount per
$1,000 principal amount Note calculated as follows:
$1,000 + [$1,000 × Reference Asset Return of the Least Performing Reference Asset]
If the Notes are not redeemed prior to scheduled maturity, and if the Final Value of the Least Performing Reference Asset is less than
its Barrier Value, your Notes will be fully exposed to the decline of the Least Performing Reference Asset from its Initial Value. You
may lose up to 100.00% of the principal amount of your Notes 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 PS2 of this
pricing supplement) by the relevant U.K. resolution authority. If Barclays Bank PLC were to default on its payment obligations or
become subject to the exercise of any U.K. Bail-in Power (or any other resolution measure) by the relevant U.K. resolution authority,
you might not receive any amounts owed to you under the Notes. See "Consent to U.K. Bail-in Power" and "Selected Risk
Considerations" in this pricing supplement and "Risk Factors" in the accompanying prospectus supplement for more information.

Consent to U.K. Bail-in
Notwithstanding any other agreements, arrangements or understandings between Barclays Bank PLC and any holder or beneficial owner
Power:
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 PS2 of this pricing supplement.

[Terms of the Notes Continue on the Next Page]

Initial Issue Price(1)
Price to Public
Agent's Commission(2)
Proceeds to Barclays Bank PLC

Per Note
$1,000
100%
1.75%
98.25%

Total
$5,123,000.00
$5,123,000.00
$89,652.50
$5,033,347.50

(1) Our estimated value of the Notes on the Initial Valuation Date, based on our internal pricing models, is $945.90 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 PS3 of this pricing supplement.

(2) Barclays Capital Inc. will receive commissions from the Issuer of $17.50 per $1,000 principal amount Note. Barclays Capital Inc. will use these commissions to pay
selling concessions or fees (including custodial or clearing fees) to other dealers.

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 PS9 of this pricing supplement.

We may use this pricing supplement in the initial sale of Notes. In addition, Barclays Capital Inc. or another of our affiliates may use this pricing supplement in
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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.

Terms of the Notes, Continued

Contingent Coupon:

$30.20 per $1,000 principal amount Note, which is 3.02% of the principal amount per Note (based on 12.08% per annum rate)
If the Closing Value of each Reference Asset on an Observation Date is greater than or equal to its respective Coupon Barrier Value,
you will receive a Contingent Coupon on the related Contingent Coupon Payment Date. If the Closing Value of any Reference Asset 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.

Observation Dates:*
The 15th calendar day of each January, April, July and October during the term of the Notes, beginning in July 2020, provided that the
final Observation Date will be the Final Valuation Date.

Contingent Coupon Payment
With respect to any Observation Date, the third business day after such Observation Date, provided that the Contingent Coupon Payment
Dates:*
Date with respect to the Final Valuation Date will be the Maturity Date

Call Valuation Dates:*
Each Observation Date scheduled to occur during the term of the Notes, beginning in July 2020 and ending in and including January 2022.
If we exercise our early redemption option on a Call Valuation Date, we will provide written notice to the trustee on such Call Valuation
Date.

Call Settlement Date:*
The Contingent Coupon Payment Date following the Call Valuation Date on which we exercise our early redemption option

Initial Value:
With respect to each Reference Asset, the Closing Value on the Initial Valuation Date, as set forth in the table above

Coupon Barrier Value:
With respect to each Reference Asset, 65.00% of its Initial Value (rounded to two decimal places), as set forth in the table above

Barrier Value:
With respect to each Reference Asset, 60.00% of its Initial Value (rounded to two decimal places), as set forth in the table above

Final Value:
With respect to each Reference Asset, the Closing Value on the Final Valuation Date

Redemption Price:
$1,000 per $1,000 principal amount Note that you hold, plus the Contingent Coupon that will otherwise be payable on the Call Settlement
Date

Reference Asset Return:
With respect to each Reference Asset, an amount calculated as follows:
Final Value Initial Value
Initial Value

Least Performing Reference
The Reference Asset with the lowest Reference Asset Return, as calculated in the manner set forth above
Asset:

Closing Value:
The term "Closing Value" means the closing level of the applicable Reference Asset, as further described 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:
06747PNQ8 / US06747PNQ80

* Subject to postponement, as described under "Additional Terms of the Notes" in this pricing supplement

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 documents listed below,
relating to our Global Medium-Term Notes, Series A, of which these Notes are a part. 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
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·
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" or "our" refers to Barclays Bank PLC.

PS-1

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
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-2

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 may 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 is a result of 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 (including any structuring or other distribution
related 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 which we may incur in hedging our obligations under the Notes, and estimated development and
other costs which we may incur in connection with the Notes.
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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 three
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 which 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 which 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 PS9 of this pricing supplement.

PS-3

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
Reference Asset 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 Reference Asset, 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 the principal amount of your Notes, 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 Reference Asset.

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

· You understand and accept that you will not be entitled to receive dividends or distributions that may be paid to holders of any Reference
Asset or any securities to which any Reference Asset provides exposure, nor will you have any voting rights with respect to any
Reference Asset or any securities to which any Reference Asset provides exposure.

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

· You understand and accept the risks that (a) you will not receive a Contingent Coupon if the Closing Value of any Reference Asset 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 Value of
any Reference Asset is less than its Barrier Value.

· You understand and accept the risk that, if the Notes are not redeemed prior to scheduled maturity, the payment at maturity, if any, will be
based solely on the Reference Asset Return of the Least Performing Reference Asset.

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

· You are willing and able to accept the risk that the Notes may be redeemed prior to scheduled maturity 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 prior to scheduled maturity that may be similar to or exceed the downside
fluctuations in the values of the Reference Assets.

· 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 the Notes are not redeemed.

· 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,
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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
Reference Asset 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 Reference Assets 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 Value of the Least Performing Reference
Asset falls below its Barrier Value.

· You anticipate that the Closing Value of at least one Reference Asset will decline during the term of the Notes such that the Closing Value
of at least one Reference Asset will fall below its Coupon Barrier Value on one or more Observation Dates and/or the Final Value of at
least one Reference Asset will fall below its Barrier Value.

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

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

· You seek an investment that entitles you to dividends or distributions on, or voting rights related to any Reference Asset or any securities
to which any Reference Asset provides exposure.

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

· You are unwilling or unable to accept the risk that the Notes may be redeemed prior to scheduled maturity.

· You cannot tolerate fluctuations in the price of the Notes prior to scheduled maturity that may be similar to or exceed the downside
fluctuations in the values of the Reference Assets.

· 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 the Notes are not redeemed.

PS-4

· 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 and the documents referenced under "Additional Documents Related to the Offering of the Notes" in this pricing
supplement. Neither the Issuer nor Barclays Capital Inc. makes any recommendation as to the suitability of the Notes for investment.

ADDITIONAL TERMS OF THE NOTES

The Observation Dates (including the Final Valuation Date), the Contingent Coupon Payment Dates, any Call Settlement Date and the Maturity
Date are subject to postponement in certain circumstances, as described under "Reference Assets--Indices--Market Disruption Events for
Securities with an Index of Equity Securities as a Reference Asset," "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" and "Terms of the Notes--Payment Dates" in the
accompanying prospectus supplement.

In addition, the Reference Assets and the Notes are subject to adjustment by the Calculation Agent under certain circumstances, as described under
"Reference Assets--Indices--Adjustments Relating to Securities with an Index as a Reference Asset" in the accompanying prospectus
supplement.

PS-5

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
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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 Value of each Reference Asset: 100.00*

Hypothetical Coupon Barrier Value for each Reference Asset: 65.00 (65.00% of the hypothetical Initial Value set forth above)*

*
The hypothetical Initial Value of 100.00 and the hypothetical Coupon Barrier Value of 65.00 for each Reference Asset have been chosen for

illustrative purposes only. The actual Initial Value and Coupon Barrier Value for each Reference Asset are as set forth on the cover of this
pricing supplement.

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

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

Because the Closing Value of each Reference Asset is greater than its respective Coupon Barrier Value, you will receive a Contingent Coupon of
$30.20 (3.02% of the principal amount per Note) on the related Contingent Coupon Payment Date.

Example 2: The Closing Value of one Reference Asset is greater than its Coupon Barrier Value on the relevant Observation Date, and the Closing
Value of at least one Reference Asset is less than its Coupon Barrier Value on the relevant Observation Date.

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

Because the Closing Value of at least one Reference Asset 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 Reference Asset is less than its Coupon Barrier Value on the relevant Observation Date.

Closing Value on Relevant
Reference Asset
Observation Date
SPX Index
45.00
RTY Index
50.00
INDU Index
40.00

Because the Closing Value of at least one Reference Asset 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
Reference Asset is below its Coupon Barrier Value on each Observation Date, you will not receive any Contingent Coupons during the term of
your Notes.

PS-6

HYPOTHETICAL EXAMPLES OF AMOUNTS PAYABLE AT MATURITY

The following examples demonstrate 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 Value of each Reference Asset: 100.00*

Hypothetical Coupon Barrier Value for each Reference Asset: 65.00 (65.00% of the hypothetical Initial Value set forth above)*

Hypothetical Barrier Value for each Reference Asset: 60.00 (60.00% of the hypothetical Initial Value set forth above)*

You hold the Notes to maturity, and the Notes are NOT redeemed prior to scheduled maturity.

*
The hypothetical Initial Value of 100.00, the hypothetical Coupon Barrier Value of 65.00 and the hypothetical Barrier Value of 60.00 for each

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Reference Asset have been chosen for illustrative purposes only. The actual Initial Value, Coupon Barrier Value and Barrier Value for each
Reference Asset are as set forth on the cover of this pricing supplement.

Final Value

Reference Asset Return

Reference Asset Return
SPX
RTY
INDU
SPX
Payment at

RTY Index
INDU Index

of the Least Performing
Index
Index
Index
Index
Maturity**
Reference Asset
150.00
155.00
175.00

50.00%
55.00%
75.00%

50.00%
$1,000.00
142.00
145.00
140.00

42.00%
45.00%
40.00%

40.00%
$1,000.00
140.00
130.00
150.00

40.00%
30.00%
50.00%

30.00%
$1,000.00
130.00
125.00
120.00

30.00%
25.00%
20.00%

20.00%
$1,000.00
110.00
115.00
120.00

10.00%
15.00%
20.00%

10.00%
$1,000.00
102.00
110.00
100.00

2.00%
10.00%
0.00%

0.00%
$1,000.00
95.00
90.00
102.50

-5.00%
-10.00%
2.50%

-10.00%
$1,000.00
90.00
102.00
80.00

-10.00%
2.00%
-20.00%

-20.00%
$1,000.00
100.00
95.00
70.00

0.00%
-5.00%
-30.00%

-30.00%
$1,000.00
140.00
80.00
60.00

40.00%
-20.00%
-40.00%

-40.00%
$1,000.00
55.00
50.00
135.00

-45.00%
-50.00%
35.00%

-50.00%
$500.00
80.00
40.00
150.00

-20.00%
-60.00%
50.00%

-60.00%
$400.00
50.00
30.00
145.00

-50.00%
-70.00%
45.00%

-70.00%
$300.00
50.00
40.00
20.00

-50.00%
-60.00%
-80.00%

-80.00%
$200.00
55.00
10.00
95.00

-45.00%
-90.00%
-5.00%

-90.00%
$100.00
60.00
102.00
0.00

-40.00%
2.00%
-100.00%

-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 Value of the SPX Index is 110.00, the Final Value of the RTY Index is 115.00 and the Final Value of the INDU Index
is 120.00.

Because the SPX Index has the lowest Reference Asset Return, the SPX Index is the Least Performing Reference Asset. Because the Final Value of
the Least Performing Reference Asset 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 that will otherwise be payable on the Maturity Date).

Example 2: The Final Value of the SPX Index is 90.00, the Final Value of the RTY Index is 102.00 and the Final Value of the INDU Index
is 80.00.

Because the INDU Index has the lowest Reference Asset Return, the INDU Index is the Least Performing Reference Asset. Because the Final
Value of the Least Performing Reference Asset 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 that will otherwise be payable on the Maturity Date).

Example 3: The Final Value of the SPX Index is 140.00, the RTY Index is 80.00 and the Final Value of the INDU Index is 60.00.

Because the INDU Index has the lowest Reference Asset Return, the INDU Index is the Least Performing Reference Asset. Because the Final
Value of the Least Performing Reference Asset 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. Because, however, the Final Value of at least one Reference Asset is less than its Coupon Barrier
Value you will not receive a Coupon Payment on the Maturity Date.

PS-7

Example 4: The Final Value of the SPX Index is 80.00, the Final Value of the RTY Index is 40.00 and the Final Value of the INDU Index is
150.00.

Because the RTY Index has the lowest Reference Asset Return, the RTY Index is the Least Performing Reference Asset. Because the Final Value
of the Least Performing Reference Asset 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 × Reference Asset Return of the Least Performing Reference Asset]
$1,000 + [$1,000 × -60.00%] = $400.00

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

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Example 5: The Final Value of the SPX Index is 50.00, the Final Value of the RTY Index is 30.00 and the Final Value of the INDU Index is
145.00.

Because the RTY Index has the lowest Reference Asset Return, the RTY Index is the Least Performing Reference Asset. Because the Final Value
of the Least Performing Reference Asset is less than its Barrier Value, you will receive a payment at maturity of $300.00 per $1,000 principal
amount Note that you hold, calculated as follows:

$1,000 + [$1,000 × Reference Asset Return of the Least Performing Reference Asset]
$1,000 + [$1,000 × -70.00%] = $300.00

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

Examples 4 and 5 demonstrate that if the Notes are not redeemed prior to scheduled maturity, and if the Final Value of the Least Performing
Reference Asset is less than its Barrier Value, your investment in the Notes will be fully exposed to the decline of the Least Performing Reference
Asset from its Initial Value. You will not benefit in any way from the Reference Asset Return of any other Reference Asset being higher than the
Reference Asset Return of the Least Performing Reference Asset.

If the Notes are not redeemed prior to scheduled maturity, 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-8

SELECTED RISK CONSIDERATIONS

An investment in the Notes involves significant risks. Investing in the Notes is not equivalent to investing directly in the Reference Assets or their
components, if any. 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 prior to scheduled maturity, and if the Final
Value of the Least Performing Reference Asset is less than its Barrier Value, your Notes will be fully exposed to the decline of the Least
Performing Reference Asset from its Initial Value. You may lose up to 100.00% of the principal amount of your Notes.

· Potential Return is Limited to the Contingent Coupons, If Any, and You Will Not Participate in Any Appreciation of Any Reference
Asset--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 Reference Asset, which may be significant, even though you will be
exposed to the depreciation in the value of the Least Performing Reference Asset if the Notes are not redeemed and the Final Value of the
Least Performing Reference Asset is less than its Barrier Value.

· 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 Reference Asset
on the related Observation Date is greater than or equal to its respective Coupon Barrier Value. If the Closing Value of any Reference Asset 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 Reference Asset is less than its respective Coupon Barrier Value on each Observation Date,
you will not receive any Contingent Coupons during the term of the Notes.

· Because the Notes Are Linked to the Least Performing Reference Asset, 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 Reference Asset--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 Reference Asset. With
multiple Reference Assets, it is more likely that the Closing Value of at least one Reference Asset 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 Reference
Assets may not be correlated or may be negatively correlated. The lower the correlation between multiple Reference Assets, the greater the
potential for one of those Reference Assets 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 Reference Assets will be over the term of the Notes. The Reference Assets represent
different equity markets. These different equity markets may not perform similarly over the term of the Notes.

Although the correlation of the Reference Assets' performance may change over the term of the Notes, the Contingent Coupon rate is
determined, in part, based on the correlation of the Reference Assets' 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 Reference Assets, which
https://www.sec.gov/Archives/edgar/data/312070/000110465920048099/a20-16126_5424b2.htm[4/17/2020 2:42:23 PM]

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 Reference Asset--Your return on the Notes is not linked to a basket consisting of the
Reference Assets. Rather, it will be contingent upon the independent performance of each Reference Asset. 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 Reference Asset. Poor performance by any Reference Asset 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 any other Reference Asset. To receive a Contingent
Coupon, the Closing Value of each Reference Asset 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 prior to scheduled maturity, and if the Final Value of any Reference Asset is less than
its Barrier Value, you will be exposed to the full decline in the Least Performing Reference Asset from its Initial Value. Accordingly, your
investment is subject to the market risk of each Reference Asset.

· 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 amount of any coupon payments that may be payable under the Notes is based on a number of factors, including the
expected volatility of the Reference Assets. The amount of such coupon payments 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 Reference Assets been lower. As volatility of a Reference Asset increases, there will typically be a greater likelihood that
(a) the Closing Value of that Reference Asset on one or more Observation Dates will be less than its Coupon Barrier Value and (b) the Final
Value of that Reference Asset will be less than its Barrier Value.

Accordingly, you should understand that a higher coupon payment amount reflects, among other things, an indication of a greater likelihood
that you will (a) not receive coupon payments 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 amount of such coupon payments been lower. In addition, actual volatility over the term of the Notes
may be significantly higher than the 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 coupon payments and/or that you will lose some or all of your principal
at maturity for the reasons described above.

PS-9

· Early Redemption and Reinvestment Risk--While the original term of the Notes is as indicated on the cover of this pricing supplement, the
Notes may be redeemed prior to maturity, as described above, and the holding period over which you may receive any coupon payments that
may be payable under the Notes could be as short as approximately three months.

The Redemption Price that you receive on a Call Settlement Date, together with any coupon payments that you may have received prior to the
Call Settlement Date, may be less than the aggregate amount of payments that you would have received had the Notes not been redeemed.
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 prior to the Maturity Date. No additional payments will be due after the relevant Call
Settlement Date. The fact that the Notes may be redeemed prior to maturity 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 redeem 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 Reference Asset 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 Prior to Scheduled Maturity, the Payment at Maturity, If Any, is Based Solely on the Closing Value of
the Least Performing Reference Asset on the Final Valuation Date--If the Notes are not redeemed prior to scheduled maturity, the Final
Value of a Reference Asset will be based solely on its Closing Value on the Final Valuation Date, and your payment at maturity, if any, will
be determined based solely on the performance of the Least Performing Reference Asset from the Initial Valuation Date to the Final Valuation
Date. Accordingly, if the value of the Least Performing Reference Asset 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 Reference Asset at any time prior to such
drop. If the Final Value of the Least Performing Reference Asset 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 Reference Asset Return of any other Reference Asset being
higher than the Reference Asset Return of the Least Performing Reference Asset.

· Credit of Issuer--The Notes are unsecured and unsubordinated debt obligations of the Issuer, Barclays Bank PLC, and are not, either directly
or indirectly, an obligation of any third party. Any payment to be made on the Notes, including any repayment of principal, is subject to the
ability of Barclays Bank PLC to satisfy its obligations as they come due and is not guaranteed by any third party. As a result, the actual and
perceived creditworthiness of Barclays Bank PLC may affect the market value of the Notes, and in the event Barclays Bank PLC were to
default on its obligations, you may not receive any amounts owed to you under the terms of the Notes.

· 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--
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Notwithstanding any other agreements, arrangements or understandings between Barclays Bank PLC 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 as set forth under "Consent to U.K. Bail-in Power" in this
pricing supplement. Accordingly, any U.K. Bail-in Power may be exercised in such a manner as to result in you and other holders and
beneficial owners of the Notes losing all or a part of the value of your investment in the Notes or receiving a different security from the Notes,
which may be worth significantly less than the Notes and which may have significantly fewer protections than those typically afforded to debt
securities. Moreover, the relevant U.K. resolution authority may exercise the U.K. Bail-in Power without providing any advance notice to, or
requiring the consent of, the holders and the beneficial owners of the Notes. The exercise of any U.K. Bail-in Power by the relevant U.K.
resolution authority with respect to the Notes will not be a default or an Event of Default (as each term is defined in the senior debt securities
indenture) and the trustee will not be liable for any action that the trustee takes, or abstains from taking, in either case, in accordance with the
exercise of the U.K. Bail-in Power by the relevant U.K. resolution authority with respect to the Notes. See "Consent to U.K. Bail-in Power" 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.

· Contingent Repayment of Any Principal Amount Applies Only at Maturity or upon Any Redemption--You should be willing to hold
your Notes to maturity or any redemption. Although the Notes provide for the contingent repayment of the principal amount of your Notes at
maturity, provided that the Final Value of the Least Performing Reference Asset is greater than or equal to its Barrier Value, or upon any
redemption, if you sell your Notes prior to such time in the secondary market, if any, you may have to sell your Notes at a price that is less
than the principal amount even if at that time the value of each Reference Asset has increased from its Initial Value. See "Many Economic and
Market Factors Will Impact the Value of the Notes" below.

· Owning the Notes is Not the Same as Owning Any Reference Asset or Any Securities to which Any Reference Asset Provides
Exposure--The return on the Notes may not reflect the return you would realize if you actually owned any Reference Asset or any securities
to which any Reference Asset provides exposure. As a holder of the Notes, you will not have voting rights or rights to receive dividends or
other distributions or any other rights that holders of any Reference Asset or any securities to which any Reference Asset provides exposure
may have.

PS-10

· Historical Performance of the Reference Assets Should Not Be Taken as Any Indication of the Future Performance of the Reference
Assets Over the Term of the Notes--The value of each Reference Asset has fluctuated in the past and may, in the future, experience
significant fluctuations. The historical performance of a Reference Asset is not an indication of the future performance of that Reference Asset
over the term of the Notes. The historical correlation among the Reference Assets is not an indication of the future correlation among them
over the term of the Notes. Therefore, the performance of the Reference Assets individually or in comparison to each other over the term of the
Notes may bear no relation or resemblance to the historical performance of any Reference Asset.

· Each Reference Asset Reflects the Price Return of the Securities Composing that Reference Asset, Not the Total Return--The return on
the Notes is based on the performance of the Reference Assets, which reflects changes in the market prices of the securities composing the
Reference Assets. The Reference Assets are not "total return" indices that, in addition to reflecting those price returns, would also reflect
dividends paid on the securities composing that Reference Asset. Accordingly, the return on the Notes will not include such a total return
feature.

· Adjustments to Any Reference Asset Could Adversely Affect the Value of the Notes--The sponsor of any Reference Asset may add,
delete, substitute or adjust the securities composing that Reference Asset or make other methodological changes to that Reference Asset that
could affect its value. The Calculation Agent will calculate the value to be used as the Closing Value of that Reference Asset in the event of
certain material changes in or modifications to that Reference Asset. In addition, the sponsor of any Reference Asset may also discontinue or
suspend calculation or publication of that Reference Asset at any time. Under these circumstances, the Calculation Agent may select a
successor index that the Calculation Agent determines to be comparable to that Reference Asset or, if no successor index is available, the
Calculation Agent will determine the value to be used as the Closing Value of that Reference Asset. Any of these actions could adversely
affect the value of any Reference Asset and, consequently, the value of the Notes. See "Reference Assets--Indices--Adjustments Relating to
Securities with an Index as a Reference Asset" in the accompanying prospectus supplement.

· The Notes Are Subject to Risks Associated with Small Capitalization Stocks--The RTY Index tracks companies that are considered small-
capitalization companies. These companies often have greater stock price volatility, lower trading volume and less liquidity than large-
capitalization companies, and therefore securities linked to the RTY Index may be more volatile than an investment linked to an index with
component stocks issued by large-capitalization companies. Stock prices of small-capitalization companies are also more vulnerable than
those of large-capitalization companies to adverse business and economic developments. In addition, small-capitalization companies are
typically less stable financially than large-capitalization companies and may depend on a small number of key personnel, making them more
vulnerable to loss of personnel. Small-capitalization companies are often subject to less analyst coverage and may be in early, and less
predictable, periods of their corporate existences. Such companies tend to have smaller revenues, less diverse product lines, smaller shares of
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