Obligation Barclay PLC 1.118% ( US06746XBW20 ) en USD

Barclay PLC

100 % ⇌

Royaume-Uni

US06746XBW20 ( en USD )

1.118% par an ( paiement semestriel )

22/05/2023 - Obligation échue

Prospectus brochure de l'obligation Barclays PLC US06746XBW20 en USD 1.118%, échue

1 000 USD

15 000 000 USD

06746XBW2

A ( Qualité moyenne supérieure )

A1 ( Qualité moyenne supérieure )

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.

L'Obligation émise par Barclay PLC ( Royaume-Uni ) , en USD, avec le code ISIN US06746XBW20, paye un coupon de 1.118% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 22/05/2023

L'Obligation émise par Barclay PLC ( Royaume-Uni ) , en USD, avec le code ISIN US06746XBW20, a été notée A1 ( Qualité moyenne supérieure ) par l'agence de notation Moody's.

L'Obligation émise par Barclay PLC ( Royaume-Uni ) , en USD, avec le code ISIN US06746XBW20, a été notée A ( Qualité moyenne supérieure ) par l'agence de notation Standard & Poor's ( S&P ).

424B2 1 a18-12732_52424b2.htm 424B2 - INFLATION FLOATER [BARC-AMERICAS.FID966815]

Pricing Supplement dated May 9, 2018
Filed Pursuant to Rule 424(b)(2)
(To Prospectus dated March 30, 2018
Registration No. 333-212571
and the Prospectus Supplement dated July 18, 2016)

U S$ 1 5 ,0 0 0 ,0 0 0

FLOAT I N G RAT E N OT ES DU E M AY 2 2 , 2 0 2 3 LI N K ED T O T H E CON SU M ER PRI CE I N DEX

Princ ipa l Am ount :
US$15,000,000
I ssue r:
Barclays Bank PLC
I ssue Pric e :
Variable Rate
Se rie s:
Global Medium-Term Notes, Series A
Origina l T ra de Da t e :
May 9, 2018
M a t urit y Da t e :
May 22, 2023
Origina l I ssue Da t e :
May 22, 2018
CU SI P/I SI N :
06746XBW2 / US06746XBW20
Spre a d:
1.00% per annum
M inim um I nt e re st Ra t e :
0.00% per annum
Re fe re nc e Ra t e :
The Reference Rate, for any Interest Payment Date, will equal the annual percentage change in the Consumer Price
Index for the period up to and including the fourth calendar month prior to the month of the relevant Interest Payment
Date (the "Reference Month"). The "Consumer Price Index" or "CPI" means the non-seasonally adjusted U.S. City
Average All Items Consumer Price Index for All Urban Consumers, published monthly by the Bureau of Labor
Statistics of the U.S. Department of Labor (the "Bureau of Labor Statistics") and reported on Bloomberg ticker
"CPURNSA" or any successor service ("Bloomberg CPURNSA"). Please see "Supplemental Terms of the Notes"
below and "Reference Assets Consumer Price Index" in the accompanying prospectus supplement for additional
information.
I nt e re st Ra t e :
For each Interest Period, the interest rate per annum will be equal to the sum of (1) the Reference Rate plus (2) the
Spread, subject to the Minimum Interest Rate
Pa ym e nt a t M a t urit y:
If you hold the Notes to maturity, you will receive 100% of your principal, subject to the creditworthiness of Barclays
Bank PLC and the exercise of any U.K. Bail-in Power by the relevant U.K. resolution authority.
Any payment on the Notes is not guaranteed by any third party and is subject to both the creditworthiness of
the Issuer and to the exercise of any U.K. Bail-in Power 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 Factors" in
this pricing supplement and "Risk Factors" in the accompanying prospectus supplement for more
information.
I nt e re st Pa ym e nt Da t e s:
Payable monthly in arrears on the 22nd day of each month during the term of the Notes, commencing on June 22,
2018 and ending on the Maturity Date.
Conse nt t o U .K . Ba il -in
Notwithstanding any other agreements, arrangements or understandings between Barclays Bank PLC and any holder
Pow e r:
of the Notes, by acquiring the Notes, each holder 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-2 of this pricing supplement.

[Terms of the Notes continue on the following page]

Pric e t o Public
Age nt 's Com m ission 1
Proc e e ds t o Ba rc la ys Ba nk
PLC

Pe r N ot e
At Variable Prices
0.75%
99.25%

T ot a l
At Variable Prices
$112,500
$14,887,500

(1 ) Ba rc la ys Ca pit a l I nc . ha s a gre e d t o purc ha se t he N ot e s from us a t 1 0 0 % of t he princ ipa l a m ount m inus a m a x im um
c om m ission e qua l t o $ 7 .5 0 pe r $ 1 ,0 0 0 princ ipa l a m ount , or 0 .7 5 % , re sult ing in a m inim um a ggre ga t e proc e e ds t o Ba rc la ys
Ba nk PLC of $ 9 9 2 .5 0 pe r $ 1 ,0 0 0 princ ipa l a m ount . Ba rc la ys Ca pit a l I nc . propose s t o offe r t he N ot e s from t im e t o t im e for
sa le in ne got ia t e d t ra nsa c t ions, or ot he rw ise , a t va rying pric e s t o be de t e rm ine d a t t he t im e of e a c h sa le ; provide d t ha t , suc h
pric e s a re not e x pe c t e d t o be le ss t ha n $ 9 9 2 .5 0 or gre a t e r t ha n $ 1 ,0 0 0 pe r $ 1 ,0 0 0 princ ipa l a m ount . Ba rc la ys Ca pit a l I nc .
m a y a lso use a ll or a port ion of it s c om m issions on t he N ot e s t o pa y se lling c onc e ssions or fe e s t o ot he r de a le rs. Se e
"Se le c t e d Risk Fa c t ors--T he Pric e Y ou Pa id for t he N ot e s M a y Be H ighe r t ha n t he Pric e s Pa id by Ot he r I nve st ors" be low for
a ddit iona l de t a il.

I nve st ing in t he N ot e s involve s a num be r of risk s. Se e "Risk Fa c t ors" be ginning on pa ge S-7 of t he prospe c t us supple m e nt
a nd "Se le c t e d Risk Fa c t ors" be ginning on pa ge PS-5 of t his pric ing supple m e nt .

We m a y use t his pric ing supple m e nt in t he init ia l sa le of N ot e s. I n a ddit ion, Ba rc la ys Ca pit a l I nc . or a not he r of our a ffilia t e s
https://www.sec.gov/Archives/edgar/data/312070/000110465918032493/a18-12732_52424b2.htm[5/11/2018 3:31:37 PM]

m a y use t his pric ing supple m e nt in m a rk e t re sa le t ra nsa c t ions in a ny N ot e s a ft e r t he ir init ia l sa le . U nle ss w e or our a ge nt
inform s you ot he rw ise in t he c onfirm a t ion of sa le , t his pric ing supple m e nt is be ing use d in a m a rk e t re sa le t ra nsa c t ion.

T he N ot e s w ill not be list e d on a ny U .S. se c urit ie s e x c ha nge or quot a t ion syst e m . N e it he r t he Se c urit ie s a nd Ex c ha nge
Com m ission nor a ny st a t e se c urit ie s c om m ission ha s a pprove d or disa pprove d of t he se se c urit ie s or de t e rm ine d t ha t t his
pric ing supple m e nt is t rut hful or c om ple t e . Any re pre se nt a t ion t o t he c ont ra ry is a c rim ina l offe nse .

T he N ot e s c onst it ut e our dire c t , unc ondit iona l, unse c ure d a nd unsubordina t e d obliga t ions a nd a re not de posit lia bilit ie s of
e it he r Ba rc la ys PLC or Ba rc la ys Ba nk PLC a nd a re not c ove re d by t he U .K . Fina nc ia l Se rvic e s Com pe nsa t ion Sc he m e or
insure d or gua ra nt e e d by t he U .S. Fe de ra l De posit I nsura nc e Corpora t ion or a ny ot he r gove rnm e nt a l a ge nc y of t he U nit e d
St a t e s, t he U nit e d K ingdom or a ny ot he r jurisdic t ion.

I nt e re st Pe riod:
The initial Interest Period will begin on, and include, the Original Issue Date and end on, but exclude, the first Interest
Payment Date. Each subsequent Interest Period will begin on, and include, the Interest Payment Date for the
immediately preceding Interest Period and end on, but exclude, the next following Interest Payment Date. The final
Interest Period will end on, but exclude, the Maturity Date.
I nt e re st Re se t Da t e s:
For any Interest Period, the first day of such period.
I nt e re st De t e rm ina t ion
The relevant Interest Reset Date.
Da t e s:
Re fe re nc e M ont h:
4 calendar months prior to the month of the Interest Payment Date
Busine ss Da y:
A Monday, Tuesday, Wednesday, Thursday or Friday that is not a day on which banking institutions in New York City
generally are authorized or obligated by law, regulation, or executive order to close.
Busine ss Da y Conve nt ion:
Following, Unadjusted
Da y Count Conve nt ion:
30/360
De nom ina t ions:
Minimum denominations of US$1,000 and integral multiples of US$1,000 thereafter.
Se t t le m e nt :
DTC; Book-entry; Transferable.
List ing:
The Notes will not be listed on any U.S. securities exchange or quotation system.
Ca lc ula t ion Age nt :
Barclays Bank PLC

Y ou should re a d t his pric ing supple m e nt t oge t he r w it h t he prospe c t us da t e d M a rc h 3 0 , 2 0 1 8 , a s supple m e nt e d by
t he prospe c t us supple m e nt da t e d J uly 1 8 , 2 0 1 6 re la t ing t o our Globa l M e dium -T e rm N ot e s, Se rie s A, of w hic h t he se
N ot e s a re a pa rt . T his pric ing supple m e nt , t oge t he r w it h t he doc um e nt s list e d be low , c ont a ins t he t e rm s of t he
N ot e s a nd supe rse de s a ll prior or c ont e m pora ne ous ora l st a t e m e nt s a s w e ll a s a ny ot he r w rit t e n m a t e ria ls
inc luding pre lim ina ry or indic a t ive pric ing t e rm s, c orre sponde nc e , t ra de ide a s, st ruc t ure s for im ple m e nt a t ion,
sa m ple st ruc t ure s, broc hure s or ot he r e duc a t iona l m a t e ria ls of ours. Y ou should c a re fully c onside r, a m ong ot he r
t hings, t he m a t t e rs se t fort h unde r "Risk Fa c t ors" in t he prospe c t us supple m e nt , a s t he N ot e s involve risk s not
a ssoc ia t e d w it h c onve nt iona l de bt se c urit ie s. We urge you t o c onsult your inve st m e nt , le ga l, t a x , a c c ount ing a nd
ot he r a dvisors be fore you inve st in t he N ot e s.

Whe n you re a d t he prospe c t us supple m e nt , not e t ha t a ll re fe re nc e s t o t he prospe c t us da t e d J uly 1 8 , 2 0 1 6 , or t o
a ny se c t ions t he re in, should re fe r inst e a d t o t he a c c om pa nying prospe c t us da t e d M a rc h 3 0 , 2 0 1 8 , or t o t he
c orre sponding se c t ions of t ha t prospe c t us.

Y ou m a y a c c e ss t he se doc um e nt s on t he SEC w e bsit e a t w w w .se c .gov a s follow s (or if suc h a ddre ss ha s c ha nge d,
by re vie w ing our filings for t he re le va nt da t e on t he SEC w e bsit e ):

·
Prospe c t us da t e d M a rc h 3 0 , 2 0 1 8 :

https://www.sec.gov/Archives/edgar/data/312070/000119312516650074/d219304df3asr.htm

·
Prospe c t us Supple m e nt da t e d J uly 1 8 , 2 0 1 6 :

https://www.sec.gov/Archives/edgar/data/312070/000110465916132999/a16-14463_21424b3.htm

Our SEC file num be r is 1 -1 0 2 5 7 a nd our Ce nt ra l I nde x K e y, or CI K , on t he SEC w e bsit e is 0 0 0 0 3 1 2 0 7 0 . As use d in
t his t e rm she e t , t he "Com pa ny," "w e ," "us," or "our" re fe rs t o Ba rc la ys Ba nk PLC.

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PS-1

CON SEN T T O U .K . BAI L-I N POWER

Notwithstanding any other agreements, arrangements or understandings between us and any holder of the Notes, by acquiring the
Notes, each holder 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 the 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 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 of the Notes further acknowledges and agrees that the rights of the holders 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 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 m ore inform a t ion, ple a se se e "Se le c t e d Risk Fa c t ors--Y ou M a y Lose Som e or All of Y our I nve st m e nt I f
Any U .K . Ba il-in Pow e r I s Ex e rc ise d by t he Re le va nt U .K . Re solut ion Aut horit y" in t his pric ing supple m e nt a s
w e ll a s "U .K . Ba il-in Pow e r," "Risk Fa c t ors--Risk s Re la t ing t o t he Se c urit ie s Ge ne ra lly--Re gula t ory a c t ion in
t he e ve nt a ba nk or inve st m e nt firm in t he Group is fa iling or lik e ly t o fa il c ould m a t e ria lly a dve rse ly a ffe c t
t he va lue of t he se c urit ie s" a nd "Risk Fa c t ors--Risk s Re la t ing t o t he Se c urit ie s Ge ne ra lly--U nde r t he t e rm s
of t he se c urit ie s, you ha ve a gre e d t o be bound by t he e x e rc ise of a ny U .K . Ba il-in Pow e r by t he re le va nt
U .K . re solut ion a ut horit y" in t he a c c om pa nying prospe c t us supple m e nt .

SU PPLEM EN T AL T ERM S OF T H E N OT ES

For each Interest Payment Date, Reference Rate will equal to the annual percentage change in the CPI (as calculated by the
Bureau of Labor Statistics) for the period up to and including the fourth calendar month prior to the month of the relevant Interest
Payment Date (the "Reference Month").

For example, because the Reference Month is specified as the fourth calendar month prior to the month of the relevant Interest
Payment Date, then for an Interest Payment Date in June 2018, the Reference Month would be February 2018, and the amount of
interest paid on the Interest Payment Date in June 2018 would be calculated using a Reference Rate that reflects the annual
percentage change in the CPI from February 2017 to February 2018. Similarly, for an Interest Payment Date in April 2018, the
applicable Reference Month would be December 2017, and Reference Rate would equal the annual percentage change in the CPI
from December 2017 to December 2016.

Stated mathematically, the Reference Rate will be calculated as follows:

CPIt CPIt-12
CPIt-12

where,

CPIt = CPI for the applicable Reference Month, as published on Bloomberg CPURNSA; and

CPIt-12 = CPI for the twelfth month prior to the applicable Reference Month, as published on Bloomberg CPURNSA.

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The Consumer Price Index is a measure of the average change in consumer prices over time for a fixed market basket of goods
and services, including food, clothing, shelter, fuels, transportation, charges for doctors and dentists services, and drugs. The CPI
is one market-accepted measure of inflation. For additional information on the CPI, please see "Reference Assets Consumer
Price Index" in the accompanying prospectus supplement.

PS-2

H Y POT H ET I CAL AM OU N T S PAY ABLE ON T H E N OT ES

The examples below illustrate the various payments you may receive on the Notes in a number of different hypothetical
scenarios. These examples are only hypothetical and do not indicate the actual payments or return you will receive on
the Notes. The examples below assume that the Notes are held until maturity and do not take into account the tax
consequences of an investment in the Notes.

H Y POT H ET I CAL I N T EREST RAT E AN D I N T EREST PAY M EN T CALCU LAT I ON S

As described above, the effective per annum Interest Rate payable on the Notes on each Interest Payment Date will be a variable
rate calculated as described under "Interest Rate" on the cover page hereof. The following illustrates the process by which the
Interest Rate and interest payment amount are determined for each Interest Period.

I nt e re st Ra t e Ca lc ula t ion

Step 1: Determine the value of the Reference Rate for the Interest Period

For each Interest Payment Date, the Reference Rate will equal the annual percentage change in the CPI for the period up to and
including the fourth calendar month prior to the month of the relevant Interest Payment Date (the "Reference Month").

A hypothetical Interest Payment Date on June 22, 2018 would relate to a hypothetical Interest Period commencing on and including
May 22, 2018 and ending on but excluding June 22, 2018, with a hypothetical Interest Determination Date of May 22, 2018 (i.e.,
the first day of the Interest Period). Because the Reference Month is specified as the fourth calendar month prior to the month of
the relevant Interest Payment Date, the Reference Month in this example would be February 2018, and the amount of interest paid
on the Interest Payment Date in June 2018 would be calculated using a Reference Rate that reflects the annual percentage
change in the CPI from February 2017 to February 2018.

The Reference Rate will be calculated as follows:

CPIt CPIt-12
CPIt-12

where,

CPIt = CPI for the applicable Reference Month (in this example, CPI for February 2018, which is the fourth calendar month prior to
the hypothetical Interest Payment Date); and

CPIt-12 = CPI for the twelfth month prior to the applicable Reference Month (in this example, CPI for February 2017).

Step 2: Calculate the applicable Interest Rate for each Interest Period

For each Interest Period commencing on or after the Original Issue Date, once the Calculation Agent has determined the value of
the Reference Rate, the Calculation Agent will then determine the per annum Interest Rate for that Interest Period by taking the
value of the Reference Rate, adding the Spread and then assessing that value relative to the Minimum Interest Rate.

If the sum of the Reference Rate and the Spread is less than the Minimum Interest Rate, the Interest Rate for that Interest Period
will equal the Minimum Interest Rate.

Step 3: Calculate the interest payment amount payable for each Interest Payment Date.

For each Interest Period, once the Calculation Agent has determined the applicable per annum Interest Rate, the Calculation Agent
will calculate the effective interest rate for that Interest Period by multiplying the per annum Interest Rate determined for that
Interest Period by the applicable day count fraction. The resulting effective interest rate is then multiplied by the relevant principal
amount of the Notes to determine the actual interest amount payable on the related Interest Payment Date.

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PS-3

Ex a m ple I nt e re st Ra t e a nd I nt e re st Pa ym e nt Ca lc ula t ions

The following examples illustrate how the per annum interest rate and interest payment amounts would be calculated for a given
Interest Period. The hypothetical CPI values have been chosen for illustrative purposes only and may not represent actual likely
CPI values that will be relevant for calculating any payments on the Notes. For historical CPI values, please see the information
set forth under the section titled "Historical Information" below. For the purposes of these examples, we have assumed that the
Minimum Interest Rate is equal to 0.00% per annum and the Spread is equal to 1.00%. We have further assumed that the Notes
have monthly Interest Payment Dates, that interest payments will be calculated using a 30/360 day count basis (such that the
applicable day count fraction for the monthly interest payment for the Interest Period will be 30/360) and that the principal amount
of the Notes is $1,000. These values and assumptions have been chosen arbitrarily for the purposes of the below examples and
should not be taken as indicative of the terms of any particular Notes or the future performance of the Reference Rate. The
specific terms for each issuance of Notes will be determined on the Original Trade Date. Numbers appearing in the examples
below have been rounded for ease of analysis.

Example 1:

Step 1: CPI for the applicable Reference Month is equal to 240.000, and CPI for the twelfth month prior to the applicable
Reference Month is equal to 235.000. The Reference Rate will be calculated as follows:

240.00 235.00
235.000

The Reference Rate is equal to 2.13%.

Step 2: Based on a Reference Rate equal to 2.13% and the Spread of 1.00%, the Interest Rate would be equal to 3.13% per
annum (the Reference Rate plus the Spread).

Step 3:

Effective Interest Rate = 3.13% x (30/360) = 0.261%

Interest Payment = $1,000 x 0.261% = $2.61

Example 2:

Step 1: CPI for the applicable Reference Month is equal to 240.500, and CPI for the twelfth month prior to the applicable
Reference Month is equal to 241.000. The Reference Rate will be calculated as follows:

240.500 241.00
241.000

The Reference Rate is equal to -0.207%.

Step 2: Based on a Reference Rate equal to -0.207% and the Spread of 1.00%, the Interest Rate would be equal to 0.793% per
annum (the Reference Rate plus the Spread).

Step 3:

Effective Interest Rate = 0.793% x (30/360) = 0.066%

Interest Payment = $1,000 x 0.066% = $0.66

Example 3:

Step 1: CPI for the applicable Reference Month is equal to 220.000, and CPI for the twelfth month prior to the applicable
Reference Month is equal to 230.000. The Reference Rate will be calculated as follows:
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220.000 230.000
230.000

PS-4

The Reference Rate is equal to -4.35%.

Step 2: Based on a Reference Rate equal to -4.35% and the Spread of 1.00%, the Interest Rate would be equal to -3.35% per
annum (the Reference Rate plus the Spread).

Step 3:

Because the Reference Rate of -3.35% per annum is less than the Minimum Interest Rate of 0.00%, the Interest Rate would be
equal to 0.00% per annum (the Minimum Interest Rate). Therefore, the noteholder would receive no interest payments on the
related Interest Payment Date.

SELECT ED RI SK FACT ORS

An inve st m e nt in t he N ot e s involve s signific a nt risk s. Y ou should re a d t he risk s sum m a rize d be low in
c onne c t ion w it h, a nd t he risk s sum m a rize d be low a re qua lifie d by re fe re nc e t o, t he risk s de sc ribe d in m ore
de t a il in t he "Risk Fa c t ors" se c t ion be ginning on pa ge S -7 of t he prospe c t us supple m e nt . We urge you t o
c onsult your inve st m e nt , le ga l, t a x , a c c ount ing a nd ot he r a dvise rs a nd t o inve st in t he N ot e s only a ft e r you
a nd your a dvisors ha ve c a re fully c onside re d t he suit a bilit y of a n inve st m e nt in t he N ot e s in light of your
pa rt ic ula r c irc um st a nc e s.

· Issuer Credit Risk -- 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, depends on 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 might not receive
any amount owed to you under the terms of the Notes.

· You May Lose Some or All of Your Investment If Any U.K. Bail-in Pow er Is Exercised by the Relevant

U .K . Re solut ion Aut horit y--Notwithstanding any other agreements, arrangements or understandings between Barclays
Bank PLC and any holder of the Notes, by acquiring the Notes, each holder 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 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 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 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.

· Certain Built -In Costs Are Likely to Adversely Affect the Value of the Notes Prior to Maturity--While the

payment at maturity described in this pricing supplement is based on the full principal amount of your Notes, the original
issue price of the Notes includes the agent's commission and the cost of hedging our obligations under the Notes through
one or more of our affiliates. As a result, the price, if any, at which Barclays Capital Inc. and other affiliates of Barclays
Bank PLC may be willing to purchase Notes from you in secondary market transactions will likely be lower than the price
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you paid for your Notes, and any sale prior to the Maturity Date could result in a substantial loss to you.

· Suitability of the Notes for Investment --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 and the prospectus. Neither the Issuer nor
Barclays Capital Inc. makes any recommendation as to the suitability of the Notes for investment.

PS-5

·
T he Pric e Y ou Pa id for t he N ot e s M a y Be H ighe r t ha n t he Pric e s Pa id by Ot he r I nve st ors -- Barclays

Capital Inc. proposes to offer the Notes from time to time for sale to investors in one or more negotiated transactions, or
otherwise, at prevailing market prices at the time of sale, at prices related to then-prevailing prices, at negotiated prices, or
otherwise. Accordingly, there is a risk that the price you paid for your Notes will be higher than the prices paid by other
investors based on the date and time you made your purchase, from whom you purchased the Notes, any related
transaction costs, whether you hold your Notes in a brokerage account, a fiduciary or fee-based account or another type of
account and other market factors.

· We and Our Affiliates May Engage in Various Activities or Make Determinations That Could Materially

Affe c t Y our N ot e s in V a rious Wa ys a nd Cre a t e Conflic t s of I nt e re st -- We and our affiliates play a variety of
roles in connection with the issuance of the Notes, as described below. In performing these roles, our and our affiliates'
economic interests are potentially adverse to your interests as an investor in the Notes.

In connection with our normal business activities and in connection with hedging our obligations under the Notes, we and
our affiliates make markets in and trade various financial instruments or products for our accounts and for the account of
our clients and otherwise provide investment banking and other financial services with respect to these financial instruments
and products. These financial instruments and products may include securities, derivative instruments or assets that may
relate to interest rates or measures of inflation, including the Reference Rate. In any such market making, trading and
hedging activity, and other services, we or our affiliates may take positions or take actions that are inconsistent with, or
adverse to, the investment objectives of holders of the Notes. We and our affiliates have no obligation to take the needs of
any buyer, seller or holder of the Notes into account in conducting these activities. Such market making, trading and
hedging activity, investment banking and other financial services may negatively impact the value of the Notes.

In addition, the role played by Barclays Capital Inc., as the agent for the Notes, could present significant conflicts of interest
with the role of Barclays Bank PLC, as issuer of the Notes. For example, Barclays Capital Inc. or its representatives may
derive compensation or financial benefit from the distribution of the Notes. Furthermore, we and our affiliates establish the
offering price of the Notes for initial sale to the public, and the offering price is not based upon any independent verification
or valuation.

In addition to the activities described above, we will also act as the Calculation Agent for the Notes. As Calculation Agent,
we will make any determinations necessary to calculate any payments on the Notes. In making these determinations, we
may be required to make certain discretionary judgments. In making these discretionary judgments, our economic interests
are potentially adverse to your interests as an investor in the Notes, and any of these determinations may adversely affect
any payments on the Notes.

· Lack of Liquidity-- The Notes will not be listed on any securities exchange. Barclays Capital Inc. and other affiliates of

Barclays Bank PLC intend to make a secondary market for the Notes but are not required to do so, and may discontinue
any such secondary market making at any time, without notice. Barclays Capital Inc. may at any time hold unsold inventory,
which may inhibit the development of a secondary market for the Notes. Even if there is a secondary market, it may not
provide enough liquidity to allow you to trade or sell the Notes easily. Because other dealers are not likely to make a
secondary market for the Notes, the price at which you may be able to trade your Notes is likely to depend on the price, if
any, at which Barclays Capital Inc. and other affiliates of Barclays Bank PLC are willing to buy the Notes. The Notes are
not designed to be short-term trading instruments. Accordingly, you should be able and willing to hold your Notes to
maturity.

·
Re fe re nc e Ra t e / I nt e re st Pa ym e nt Risk -- Because the amount of interest payable on the Notes is linked to the

Reference Rate, which for each Interest Payment Date is equal to the annual percentage change in the CPI for the period
up to and including the fourth calendar month prior to the month of the relevant Interest Payment Date (the "Reference
Month"), you will be exposed to risks not associated with a conventional fixed-rate debt instrument. These risks include
fluctuation of the Reference Rate and the possibility that, for any given Interest Period, you may receive a lesser amount of
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interest than for one or more prior Interest Periods. We have no control over a number of unpredictable matters that may
affect interest rates or measures of inflation such as the CPI, including economic, financial and political events. If the CPI
decreases or does not increase (measured as the year-over-year change from the Reference Month), the Reference Rate
for any given Interest Period could be equal to or less than zero. If the Reference Rate were to decline to a level such that
the sum of the Reference Rate and the Spread did not result in a rate greater than the Minimum Interest Rate for any
Interest Period, you would receive an interest payment based on the Minimum Interest Rate on the related Interest
Payment Date. Because the Minimum Interest Rate is set to equal 0.00%, you would receive no interest payment for any
Interest Period where the sum Reference Rate and the Spread were equal to or less than the Minimum Interest Rate. In

PS-6

addition, the floating Interest Rate for the Notes may be less than the floating rate payable on a similar Note or other
instrument of the same maturity issued by us or an issuer with the same or a comparable credit rating.

·
Pot e nt ia l Re t urn Lim it e d t o Any I nt e re st Pa ym e nt s --The return on the Notes, if any, is limited to the monthly

interest payments, if any. If the Reference Rate plus the Spread is less than or equal to 0.00% for any Interest Period, no
interest will be paid on the applicable Interest Payment Date. As such it is possible that you will not receive any interest
payments during the term of the Notes.

· The Manner In Which Inflation Is Measured for Purposes of the Notes May Differ from Other Measures

of I nfla t ion in I m port a nt Wa ys --The year-over-year percentage change in the level of the CPI is just one measure
of price inflation in the United States. This measure may not reflect the actual levels of inflation affecting holders of the
Notes. Moreover, this measure may be more volatile than other measures of inflation. The CPI includes prices of all items
measured by the Bureau of Labor Statistics, including items that may be particularly volatile such as energy and food items.
Significant fluctuations in the prices of these items may have a significant effect on changes in the CPI and may cause the
CPI to be more volatile than similar indices excluding these items. Moreover, measuring the year-over-year percentage
change in the level of the CPI each month may result in a more volatile measure of inflation than alternative measures,
such as the percentage change in the average level of the CPI from one year to the next.

· The Manner in Which the Bureau of Labor Statistics Calculates the CPI May Change in the Future and

Any Suc h Cha nge M a y Affe c t t he V a lue of t he N ot e s -- There can be no assurance that the Bureau of Labor
Statistics will not change the method by which it calculates the CPI. In addition, changes in the way the CPI is calculated
could reduce the level of the CPI and lower the interest payments with respect to the Notes. Accordingly, the amount of
interest, if any, payable on the Notes, and therefore the value of the Notes, may be significantly reduced. If the CPI is
substantially altered or discontinued, a modified or substitute index may be employed to calculate the interest payable on
the Notes, and any such modification or substitution may adversely affect the value of the Notes.

· The Historical Levels of the CPI Are Not an Indication of the Future Levels of the CPI -- The historical

levels of the CPI are not an indication of the future levels of the CPI during the term of the Notes. In the past, the CPI has
experienced periods of volatility, and such volatility may occur in the future. Fluctuations and trends in the CPI that have
occurred in the past are not necessarily indicative, however, of fluctuations that may occur in the future. Any interest
payments on the Notes will be affected by changes in the CPI. Changes in the CPI are a function of the changes in
specified consumer prices over time, which result from the interaction of many factors over which we have no control.

· Many Economic and Market Factors Will Impact the Value of the Notes-- In addition to the Reference Rate,

the value of the Notes will be affected by a number of economic and market factors that may either offset or magnify each
other, including:

o
the expected volatility of the Reference Rate;

o
the time to maturity of the Notes;

o
interest and yield rates in the market generally;

o
a variety of economic, financial, political, regulatory or judicial events, including U.S. monetary policy;

o
supply and demand for the Notes; and

o
our creditworthiness, including actual or anticipated downgrades in our credit ratings.

PS-7
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H I ST ORI CAL I N FORM AT I ON

We obtained the historical information on the CPI in this section from Bloomberg Professional® service, without independent
verification. Historical performance of the CPI should not be taken as an indication of future performance. Future performance of
the CPI may differ significantly from historical performance, and no assurance can be given as to the CPI during the term of the
Notes.

The following graph shows historical levels of the CPI for each month from January 2008 through April 2018. The level of CPI for
March 2018 was 249.554.

Consum e r Pric e I nde x (Publishe d M ont hly Le ve l)
J a nua ry 2 0 0 8 t o M a rc h 2 0 1 8

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

The following graph sets forth the levels of the CPI as a percentage change on a rolling twelve-month basis from January 2008
through April 2018.

H ist oric a l Y e a r -Ove r -Y e a r Cha nge in t he Consum e r Pric e I nde x
J a nua ry 2 0 0 8 t o M a rc h 2 0 1 8

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

PS-8
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T AX CON SEQU EN CES

You should review carefully the sections entitled "Material U.S. Federal Income Tax Consequences--Tax Consequences to U.S.
Holders--Notes Treated as Indebtedness for U.S. Federal Income Tax Purposes" and, if you are a non-U.S. holder, "--Tax
Consequences to Non-U.S. Holders," in the accompanying prospectus supplement. The discussion below applies to you only if you
are an initial purchaser of the Notes; if you are a secondary purchaser of the Notes, the tax consequences to you may be different.
In the opinion of our special tax counsel, Davis Polk & Wardwell LLP, the Notes should be treated as debt instruments for U.S.
federal income tax purposes. The remainder of this discussion assumes that this treatment is correct.

Based on current market conditions, in the opinion of our special tax counsel, the Notes should be treated for U.S. federal income
tax purposes as "variable rate debt instruments," as described under "--Variable Rate Debt Instruments" in the accompanying
prospectus supplement.

Assuming that our treatment of the Notes as variable rate debt instruments is correct, interest paid on the Notes will generally be
taxable to you as ordinary income at the time it accrues or is received, in accordance with your method of tax accounting. Upon a
sale or exchange (including redemption at maturity), you will generally recognize taxable gain or loss equal to the difference
between the amount realized on the sale or exchange (not including any amount attributable to accrued but unpaid interest) and
your tax basis in the Notes, which will generally equal the amount you paid to acquire the Notes. This gain or loss will generally be
long-term capital gain or loss if you have held the Notes for more than one year. The deductibility of capital losses is subject to
limitation.

The discussions herein and in the accompanying prospectus supplement do not address the consequences to taxpayers subject to
special tax accounting rules under Section 451(b).

It is possible that the Internal Revenue Service (the "IRS") could determine that the Notes are "contingent payment debt
instruments" for U.S. federal income tax purposes, which could have adverse U.S. federal income tax consequences for you. For
example, if the Notes were properly treated as contingent payment debt instruments, regardless of your method of accounting for
U.S. federal income tax purposes, you generally would be required to accrue taxable interest income in each year on a constant
yield to maturity basis at the "comparable yield," as determined by us, with certain adjustments in each year to reflect the
difference, if any, between the actual and the projected amounts of the interest payments on the Notes in that year according to a
"projected payment schedule." Additionally, any income recognized upon a sale or exchange of a Note (including redemption at
maturity) would be treated as interest income for U.S. federal income tax purposes. You should consult your tax advisor regarding
the U.S. federal income tax consequences to you if the Notes are properly treated as contingent payment debt instruments.

You should consult your tax advisor regarding the U.S. federal tax consequences of an investment in the Notes, as well as tax
consequences arising under the laws of any state, local or non-U.S. taxing jurisdiction.

N on -U .S. H olde rs. We do not believe that non-U.S. holders should be required to provide a Form W-8 in order to avoid 30%
U.S. withholding tax with respect to interest on the Notes, although the IRS could challenge this position. However, non-U.S.
holders should in any event expect to be required to provide appropriate Forms W-8 or other documentation in order to establish
an exemption from backup withholding, as described under the heading "--Information Reporting and Backup Withholding" in the
accompanying prospectus supplement. If any withholding is required, we will not be required to pay any additional amounts with
respect to amounts withheld.

PS-9

SU PPLEM EN T AL PLAN OF DI ST RI BU T I ON

We have agreed to sell to Barclays Capital Inc. (the "Age nt "), and the Agent has agreed to purchase from us, the principal amount
of the Notes, and at the price, specified on the cover of this pricing supplement. The Agent commits to take and pay for all of the
Notes, if any are taken.

We expect that delivery of the Notes will be made against payment for the Notes on or about the Original Issue Date indicated on
the cover of this document, which may be more than two business days following the Original Trade Date. Under Rule 15c6-1 of
the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business
days, unless the parties to any such trade expressly agree otherwise. Accordingly, if the Original Issue Date is more than two
business days following the Original Trade Date, purchasers who wish to trade the Notes on any date prior to two business days
before delivery will be required to specify alternative settlement arrangements to prevent a failed settlement. See "Plan of
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Document Outline

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