[FWP] iPath Series B S&P 500 VIX Mid-Term Futures ETN Free Writing Prospectus
Barclays Bank PLC is marketing Partial Principal at Risk Securities linked to the S&P 500® Index. The $1,000-denominated notes will be priced on 30 June 2025 and mature on 5 January 2027. They offer a 100% participation rate in any positive index return, but total upside is capped at a maximum payment of at least $1,127 (≥ 112.7% of principal). If the index ends below its initial level, holders receive principal reduced by the index’s percentage decline, subject to a minimum payment of $850; the worst-case loss is therefore 15% of invested capital.
The notes pay no periodic interest, are senior unsecured obligations of Barclays, and are exposed to both the bank’s credit risk and potential U.K. bail-in. Barclays’ own pricing models value the securities at $919.90–$969.90, noticeably below the $1,000 issue price, reflecting dealer compensation, hedging costs and structuring margin.
No exchange listing is planned, so liquidity will depend on Barclays making markets, and resale prices may be well below both issue price and model value. Additional risks disclosed include limited upside, potential negative impact of Barclays’ hedging, model uncertainty, and possible early acceleration upon regulatory change-in-law events.
These notes may suit investors seeking moderate, capped equity exposure with partial downside protection over an 18-month horizon, but investors give up dividends, accept limited upside and bear issuer and market liquidity risk.
Barclays Bank PLC propone titoli a rischio parziale sul capitale collegati all'indice S&P 500®. I titoli, denominati in $1.000, saranno quotati il 30 giugno 2025 e scadranno il 5 gennaio 2027. Offrono una partecipazione del 100% in caso di rendimento positivo dell'indice, ma il guadagno massimo è limitato a un pagamento massimo di almeno $1.127 (≥ 112,7% del capitale). Se l'indice chiude sotto il livello iniziale, gli investitori riceveranno il capitale ridotto in base alla percentuale di calo dell'indice, con un pagamento minimo di $850; la perdita massima possibile è quindi del 15% del capitale investito.
I titoli non pagano interessi periodici, sono obbligazioni senior non garantite di Barclays e sono soggetti sia al rischio di credito della banca sia al potenziale bail-in nel Regno Unito. I modelli di valutazione di Barclays stimano il valore dei titoli tra $919,90 e $969,90, significativamente inferiore al prezzo di emissione di $1.000, a causa di compensi per i dealer, costi di copertura e margine di strutturazione.
Non è prevista una quotazione in borsa, quindi la liquidità dipenderà dalla volontà di Barclays di fare mercato, e i prezzi di rivendita potrebbero essere molto inferiori sia al prezzo di emissione che al valore stimato. Altri rischi includono guadagni limitati, possibile impatto negativo delle coperture di Barclays, incertezza dei modelli e possibile accelerazione anticipata in caso di cambiamenti normativi.
Questi titoli possono essere adatti a investitori che cercano un'esposizione azionaria moderata e limitata con protezione parziale al ribasso su un orizzonte di 18 mesi, ma che rinunciano ai dividendi, accettano un guadagno limitato e si assumono il rischio emittente e di liquidità di mercato.
Barclays Bank PLC está comercializando Valores de Principal Parcial en Riesgo vinculados al índice S&P 500®. Los bonos denominados en $1,000 se valorarán el 30 de junio de 2025 y vencerán el 5 de enero de 2027. Ofrecen una tasa de participación del 100% en cualquier rendimiento positivo del índice, pero el beneficio total está limitado a un pago máximo de al menos $1,127 (≥ 112.7% del principal). Si el índice termina por debajo de su nivel inicial, los tenedores reciben el principal reducido según la caída porcentual del índice, con un pago mínimo de $850; la pérdida máxima en el peor de los casos es del 15% del capital invertido.
Los bonos no pagan intereses periódicos, son obligaciones senior no garantizadas de Barclays y están expuestos tanto al riesgo crediticio del banco como a un posible rescate interno en el Reino Unido. Los modelos de valoración propios de Barclays estiman el valor de los valores entre $919.90 y $969.90, muy por debajo del precio de emisión de $1,000, reflejando compensación para los distribuidores, costos de cobertura y margen de estructuración.
No se planea cotización en bolsa, por lo que la liquidez dependerá de que Barclays mantenga mercado, y los precios de reventa podrían estar muy por debajo tanto del precio de emisión como del valor estimado. Los riesgos adicionales incluyen ganancias limitadas, posible impacto negativo de la cobertura de Barclays, incertidumbre del modelo y posible aceleración anticipada ante cambios regulatorios.
Estos bonos pueden ser adecuados para inversores que buscan exposición moderada y limitada a acciones con protección parcial a la baja en un horizonte de 18 meses, pero renuncian a dividendos, aceptan ganancias limitadas y asumen riesgos de emisor y liquidez de mercado.
Barclays Bank PLC는 S&P 500® 지수에 연계된 부분 원금 위험 증권을 판매하고 있습니다. 1,000달러 단위의 이 노트는 2025년 6월 30일에 가격이 책정되며 2027년 1월 5일에 만기됩니다. 긍정적인 지수 수익에 대해 100% 참여율을 제공하지만, 총 상승 수익은 최소 $1,127(원금의 112.7% 이상)으로 제한됩니다. 지수가 초기 수준 아래로 마감하면, 보유자는 지수 하락 비율만큼 원금이 감소된 금액을 받고, 최소 지급액은 $850입니다; 최악의 경우 손실은 투자 원금의 15%입니다.
이 노트는 정기 이자를 지급하지 않으며, Barclays의 선순위 무담보 채무에 해당하고, 은행 신용 위험과 잠재적인 영국 내 구제금융 위험에 노출됩니다. Barclays 자체 평가 모델은 이 증권의 가치를 $919.90–$969.90로 산정하며, 이는 $1,000 발행가보다 상당히 낮은 수준으로, 딜러 보상, 헤지 비용 및 구조화 마진을 반영합니다.
거래소 상장은 계획되어 있지 않아 유동성은 Barclays의 시장 조성 여부에 달려 있으며, 재판매 가격은 발행가와 모델 가치보다 훨씬 낮을 수 있습니다. 추가 위험으로는 제한된 상승 잠재력, Barclays 헤지의 부정적 영향 가능성, 모델 불확실성, 규제 변경 시 조기 가속화 가능성이 포함됩니다.
이 증권은 18개월 기간 동안 부분 하방 보호가 있는 중간 수준의 제한된 주식 노출을 원하는 투자자에게 적합할 수 있으나, 배당금 포기, 제한된 상승 수익 수용, 발행자 및 시장 유동성 위험 부담이 필요합니다.
Barclays Bank PLC commercialise des titres à risque partiel sur le principal liés à l'indice S&P 500®. Les billets libellés en 1 000 $ seront cotés le 30 juin 2025 et arriveront à échéance le 5 janvier 2027. Ils offrent un taux de participation de 100% à toute performance positive de l'indice, mais le gain total est plafonné à un paiement maximum d'au moins 1 127 $ (≥ 112,7 % du principal). Si l'indice termine en dessous de son niveau initial, les détenteurs reçoivent le principal réduit de la baisse en pourcentage de l'indice, avec un paiement minimum de 850 $ ; la perte maximale est donc de 15 % du capital investi.
Les billets ne versent aucun intérêt périodique, sont des obligations senior non garanties de Barclays et sont exposés au risque de crédit de la banque ainsi qu'à un éventuel renflouement interne au Royaume-Uni. Les modèles d'évaluation propres à Barclays valorisent ces titres entre 919,90 $ et 969,90 $, nettement en dessous du prix d'émission de 1 000 $, reflétant la rémunération des intermédiaires, les coûts de couverture et la marge de structuration.
Aucune cotation en bourse n'est prévue, la liquidité dépendra donc de la volonté de Barclays d'animer le marché, et les prix de revente pourraient être bien inférieurs au prix d'émission et à la valeur modélisée. Les risques supplémentaires incluent un potentiel de gain limité, un impact négatif possible des couvertures de Barclays, une incertitude des modèles et une possible accélération anticipée en cas de changements réglementaires.
Ces titres peuvent convenir aux investisseurs recherchant une exposition modérée et plafonnée aux actions avec une protection partielle à la baisse sur un horizon de 18 mois, mais qui renoncent aux dividendes, acceptent un gain limité et assument les risques liés à l'émetteur et à la liquidité du marché.
Die Barclays Bank PLC bietet Teilweise Kapitalrisiko-Wertpapiere an, die an den S&P 500® Index gekoppelt sind. Die auf $1.000 lautenden Notes werden am 30. Juni 2025 bepreist und laufen am 5. Januar 2027 aus. Sie bieten eine 100%ige Partizipationsrate an positiven Indexrenditen, jedoch ist der maximale Gewinn auf eine Höchstzahlung von mindestens $1.127 (≥ 112,7% des Kapitals) begrenzt. Fällt der Index unter das Anfangsniveau, erhalten die Inhaber das Kapital vermindert um den prozentualen Indexverlust, mit einer Mindestzahlung von $850; der maximale Verlust beträgt somit 15% des eingesetzten Kapitals.
Die Notes zahlen keine periodischen Zinsen, sind unbesicherte vorrangige Verbindlichkeiten von Barclays und unterliegen sowohl dem Kreditrisiko der Bank als auch einem möglichen Bail-in in Großbritannien. Barclays eigene Bewertungsmodelle schätzen die Wertpapiere auf $919,90–$969,90, deutlich unter dem Ausgabepreis von $1.000, was Händlerkompensation, Absicherungskosten und Strukturierungsaufschlag widerspiegelt.
Eine Börsennotierung ist nicht geplant, daher hängt die Liquidität davon ab, dass Barclays einen Markt stellt, und Wiederverkaufspreise können deutlich unter Ausgabepreis und Modellwert liegen. Weitere Risiken sind begrenztes Aufwärtspotenzial, mögliche negative Auswirkungen der Absicherung durch Barclays, Modellunsicherheit und mögliche vorzeitige Beschleunigung bei regulatorischen Gesetzesänderungen.
Diese Notes könnten für Anleger geeignet sein, die über einen Zeitraum von 18 Monaten eine moderate, begrenzte Aktienexponierung mit teilweisem Abwärtsschutz suchen, dabei jedoch auf Dividenden verzichten, begrenztes Aufwärtspotenzial akzeptieren und Emittenten- sowie Marktlagerisiken tragen.
- 85% principal floor limits maximum loss to 15%.
- 100% participation in S&P 500 upside up to the cap provides equity growth potential.
- Short 18-month tenor reduces long-term exposure to market and credit events.
- No interest or dividends paid, reducing total return versus direct equity ownership.
- Upside capped at a minimum of 12.7%, limiting participation in strong markets.
- Estimated fair value ($919.90–$969.90) is below the $1,000 issue price, implying negative carry at issuance.
- Senior unsecured exposure to Barclays and potential U.K. bail-in could lead to greater losses than modeled.
- Unlisted security; secondary market liquidity and pricing are uncertain.
Insights
TL;DR – Captures 0-12.7% upside with 15% floor; credit and liquidity risks offset limited protection.
The structure provides 15% principal protection and full participation up to a modest cap. Investors sacrifice dividends and any equity gains above roughly 12.7%, while accepting Barclays credit exposure. The bank’s internal value (≈ 92–97% of par) indicates a meaningful embedded fee, so secondary prices are likely to open at a discount. For investors comfortable with Barclays risk and needing a defined 15% buffer, the notes are a neutral proposition; risk/return is balanced but not compelling.
TL;DR – Limited upside, below-par model value and bail-in risk make risk-adjusted return unattractive.
While the 85% floor caps losses, the 12.7% minimum cap severely limits upside versus direct S&P 500 exposure. The lack of interest and no dividend replacement raise carry costs. Credit risk is material: any bail-in could wipe out more than 15%. Absence of listing reduces exit flexibility. Given these factors, the structure skews negative for most portfolios seeking efficient equity risk.
Barclays Bank PLC propone titoli a rischio parziale sul capitale collegati all'indice S&P 500®. I titoli, denominati in $1.000, saranno quotati il 30 giugno 2025 e scadranno il 5 gennaio 2027. Offrono una partecipazione del 100% in caso di rendimento positivo dell'indice, ma il guadagno massimo è limitato a un pagamento massimo di almeno $1.127 (≥ 112,7% del capitale). Se l'indice chiude sotto il livello iniziale, gli investitori riceveranno il capitale ridotto in base alla percentuale di calo dell'indice, con un pagamento minimo di $850; la perdita massima possibile è quindi del 15% del capitale investito.
I titoli non pagano interessi periodici, sono obbligazioni senior non garantite di Barclays e sono soggetti sia al rischio di credito della banca sia al potenziale bail-in nel Regno Unito. I modelli di valutazione di Barclays stimano il valore dei titoli tra $919,90 e $969,90, significativamente inferiore al prezzo di emissione di $1.000, a causa di compensi per i dealer, costi di copertura e margine di strutturazione.
Non è prevista una quotazione in borsa, quindi la liquidità dipenderà dalla volontà di Barclays di fare mercato, e i prezzi di rivendita potrebbero essere molto inferiori sia al prezzo di emissione che al valore stimato. Altri rischi includono guadagni limitati, possibile impatto negativo delle coperture di Barclays, incertezza dei modelli e possibile accelerazione anticipata in caso di cambiamenti normativi.
Questi titoli possono essere adatti a investitori che cercano un'esposizione azionaria moderata e limitata con protezione parziale al ribasso su un orizzonte di 18 mesi, ma che rinunciano ai dividendi, accettano un guadagno limitato e si assumono il rischio emittente e di liquidità di mercato.
Barclays Bank PLC está comercializando Valores de Principal Parcial en Riesgo vinculados al índice S&P 500®. Los bonos denominados en $1,000 se valorarán el 30 de junio de 2025 y vencerán el 5 de enero de 2027. Ofrecen una tasa de participación del 100% en cualquier rendimiento positivo del índice, pero el beneficio total está limitado a un pago máximo de al menos $1,127 (≥ 112.7% del principal). Si el índice termina por debajo de su nivel inicial, los tenedores reciben el principal reducido según la caída porcentual del índice, con un pago mínimo de $850; la pérdida máxima en el peor de los casos es del 15% del capital invertido.
Los bonos no pagan intereses periódicos, son obligaciones senior no garantizadas de Barclays y están expuestos tanto al riesgo crediticio del banco como a un posible rescate interno en el Reino Unido. Los modelos de valoración propios de Barclays estiman el valor de los valores entre $919.90 y $969.90, muy por debajo del precio de emisión de $1,000, reflejando compensación para los distribuidores, costos de cobertura y margen de estructuración.
No se planea cotización en bolsa, por lo que la liquidez dependerá de que Barclays mantenga mercado, y los precios de reventa podrían estar muy por debajo tanto del precio de emisión como del valor estimado. Los riesgos adicionales incluyen ganancias limitadas, posible impacto negativo de la cobertura de Barclays, incertidumbre del modelo y posible aceleración anticipada ante cambios regulatorios.
Estos bonos pueden ser adecuados para inversores que buscan exposición moderada y limitada a acciones con protección parcial a la baja en un horizonte de 18 meses, pero renuncian a dividendos, aceptan ganancias limitadas y asumen riesgos de emisor y liquidez de mercado.
Barclays Bank PLC는 S&P 500® 지수에 연계된 부분 원금 위험 증권을 판매하고 있습니다. 1,000달러 단위의 이 노트는 2025년 6월 30일에 가격이 책정되며 2027년 1월 5일에 만기됩니다. 긍정적인 지수 수익에 대해 100% 참여율을 제공하지만, 총 상승 수익은 최소 $1,127(원금의 112.7% 이상)으로 제한됩니다. 지수가 초기 수준 아래로 마감하면, 보유자는 지수 하락 비율만큼 원금이 감소된 금액을 받고, 최소 지급액은 $850입니다; 최악의 경우 손실은 투자 원금의 15%입니다.
이 노트는 정기 이자를 지급하지 않으며, Barclays의 선순위 무담보 채무에 해당하고, 은행 신용 위험과 잠재적인 영국 내 구제금융 위험에 노출됩니다. Barclays 자체 평가 모델은 이 증권의 가치를 $919.90–$969.90로 산정하며, 이는 $1,000 발행가보다 상당히 낮은 수준으로, 딜러 보상, 헤지 비용 및 구조화 마진을 반영합니다.
거래소 상장은 계획되어 있지 않아 유동성은 Barclays의 시장 조성 여부에 달려 있으며, 재판매 가격은 발행가와 모델 가치보다 훨씬 낮을 수 있습니다. 추가 위험으로는 제한된 상승 잠재력, Barclays 헤지의 부정적 영향 가능성, 모델 불확실성, 규제 변경 시 조기 가속화 가능성이 포함됩니다.
이 증권은 18개월 기간 동안 부분 하방 보호가 있는 중간 수준의 제한된 주식 노출을 원하는 투자자에게 적합할 수 있으나, 배당금 포기, 제한된 상승 수익 수용, 발행자 및 시장 유동성 위험 부담이 필요합니다.
Barclays Bank PLC commercialise des titres à risque partiel sur le principal liés à l'indice S&P 500®. Les billets libellés en 1 000 $ seront cotés le 30 juin 2025 et arriveront à échéance le 5 janvier 2027. Ils offrent un taux de participation de 100% à toute performance positive de l'indice, mais le gain total est plafonné à un paiement maximum d'au moins 1 127 $ (≥ 112,7 % du principal). Si l'indice termine en dessous de son niveau initial, les détenteurs reçoivent le principal réduit de la baisse en pourcentage de l'indice, avec un paiement minimum de 850 $ ; la perte maximale est donc de 15 % du capital investi.
Les billets ne versent aucun intérêt périodique, sont des obligations senior non garanties de Barclays et sont exposés au risque de crédit de la banque ainsi qu'à un éventuel renflouement interne au Royaume-Uni. Les modèles d'évaluation propres à Barclays valorisent ces titres entre 919,90 $ et 969,90 $, nettement en dessous du prix d'émission de 1 000 $, reflétant la rémunération des intermédiaires, les coûts de couverture et la marge de structuration.
Aucune cotation en bourse n'est prévue, la liquidité dépendra donc de la volonté de Barclays d'animer le marché, et les prix de revente pourraient être bien inférieurs au prix d'émission et à la valeur modélisée. Les risques supplémentaires incluent un potentiel de gain limité, un impact négatif possible des couvertures de Barclays, une incertitude des modèles et une possible accélération anticipée en cas de changements réglementaires.
Ces titres peuvent convenir aux investisseurs recherchant une exposition modérée et plafonnée aux actions avec une protection partielle à la baisse sur un horizon de 18 mois, mais qui renoncent aux dividendes, acceptent un gain limité et assument les risques liés à l'émetteur et à la liquidité du marché.
Die Barclays Bank PLC bietet Teilweise Kapitalrisiko-Wertpapiere an, die an den S&P 500® Index gekoppelt sind. Die auf $1.000 lautenden Notes werden am 30. Juni 2025 bepreist und laufen am 5. Januar 2027 aus. Sie bieten eine 100%ige Partizipationsrate an positiven Indexrenditen, jedoch ist der maximale Gewinn auf eine Höchstzahlung von mindestens $1.127 (≥ 112,7% des Kapitals) begrenzt. Fällt der Index unter das Anfangsniveau, erhalten die Inhaber das Kapital vermindert um den prozentualen Indexverlust, mit einer Mindestzahlung von $850; der maximale Verlust beträgt somit 15% des eingesetzten Kapitals.
Die Notes zahlen keine periodischen Zinsen, sind unbesicherte vorrangige Verbindlichkeiten von Barclays und unterliegen sowohl dem Kreditrisiko der Bank als auch einem möglichen Bail-in in Großbritannien. Barclays eigene Bewertungsmodelle schätzen die Wertpapiere auf $919,90–$969,90, deutlich unter dem Ausgabepreis von $1.000, was Händlerkompensation, Absicherungskosten und Strukturierungsaufschlag widerspiegelt.
Eine Börsennotierung ist nicht geplant, daher hängt die Liquidität davon ab, dass Barclays einen Markt stellt, und Wiederverkaufspreise können deutlich unter Ausgabepreis und Modellwert liegen. Weitere Risiken sind begrenztes Aufwärtspotenzial, mögliche negative Auswirkungen der Absicherung durch Barclays, Modellunsicherheit und mögliche vorzeitige Beschleunigung bei regulatorischen Gesetzesänderungen.
Diese Notes könnten für Anleger geeignet sein, die über einen Zeitraum von 18 Monaten eine moderate, begrenzte Aktienexponierung mit teilweisem Abwärtsschutz suchen, dabei jedoch auf Dividenden verzichten, begrenztes Aufwärtspotenzial akzeptieren und Emittenten- sowie Marktlagerisiken tragen.
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Barclays Bank PLC Market Linked Securities
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Filed Pursuant to Rule 433 Registration Statement No. 333-287303
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Market Linked Securities—Contingent Fixed Return and Contingent Downside Principal at Risk Securities Linked to the Lowest Performing of the Common Stock of Advanced Micro Devices, Inc. and the Common Stock of NVIDIA Corporation due July 30, 2026 Term Sheet dated June 30, 2025 to Preliminary Pricing Supplement dated June 30, 2025 (the “PPS”) |
Summary of Terms
| Issuer | Barclays Bank PLC |
| Market Measures | Common stock of Advanced Micro Devices, Inc. (the “AMD Stock”) and common stock of NVIDIA Corporation (the “NVDA Stock”) (each, an “Underlying Stock”) |
| Pricing Date | July 18, 2025 |
| Issue Date | July 23, 2025 |
| Calculation Day | July 27, 2026 |
| Stated Maturity Date | July 30, 2026 |
| Principal Amount | $1,000 per security |
| Maturity Payment Amount (per security) |
The maturity payment amount will equal: · If the ending price of the lowest performing Underlying Stock is greater than or equal to its threshold price: $1,000 + the contingent fixed return; or · If the ending price of the lowest performing Underlying Stock is less than its threshold price: $1,000 + ($1,000 × stock return of the lowest performing Underlying Stock) |
| Lowest Performing Underlying Stock | The Underlying Stock with the lowest stock return |
| Starting Price | For each Underlying Stock, its stock closing price on the pricing date |
| Ending Price | For each Underlying Stock, its stock closing price on the calculation day |
| Threshold Price | For each Underlying Stock, 60% of its starting price |
| Contingent Fixed Return | At least 15.40% of the principal amount (at least $154.00 per security), to be determined on the pricing date |
| Stock Return |
For each Underlying Stock,
(ending price – starting price) / starting price
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| Calculation Agent | Barclays Bank PLC |
| Denominations | $1,000 and any integral multiple of $1,000 |
| CUSIP/ISIN | 06746CE54 / US06746CE547 |
| Agent Discount | Up to 2.325%; dealers, including those using the trade name Wells Fargo Advisors (WFA), may receive a selling concession of 1.75% and WFA may receive a distribution expense fee of 0.075%. Selected dealers may receive a fee of up to 0.10% for marketing and other services. |
Hypothetical Payout Profile*
* assumes a contingent fixed return equal to the lowest possible contingent fixed return that may be determined on the pricing date
If the ending price of the lowest performing Underlying Stock is less than its threshold price, you will have full downside exposure to the decrease in the stock closing price of that Underlying Stock from its starting price and will lose more than 40%, and possibly all, of the principal amount of your securities at maturity.
Any payment on the securities, including any repayment of principal, is subject to the creditworthiness of Barclays Bank PLC and is not guaranteed by any third party.
Notwithstanding and to the exclusion of any other term of the securities or any other agreements, arrangements or understandings between Barclays Bank PLC and any holder or beneficial owner of the securities (or the trustee on behalf of the holders of the securities), by acquiring the securities, each holder or beneficial owner of the securities acknowledges, accepts, agrees to be bound by, and consents to the exercise of, any U.K. Bail-in Power by the relevant U.K. resolution authority. See “Consent to U.K. Bail-in Power” in the PPS.
The issuer’s estimated value of the securities on the pricing date, based on its internal pricing models, is expected to be between $910.20 and $960.20 per security. The estimated value is expected to be less than the original offering price of the securities. See “Additional Information Regarding Our Estimated Value of the Securities” in the PPS.
Investors should carefully review the accompanying PPS, product supplement, prospectus supplement and prospectus before making a decision to invest in the securities.
PPS:
http://www.sec.gov/Archives/edgar/data/312070/000095010325008152/dp230822_424b2-7479wf.htm
The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Selected Risk Considerations” in this term sheet and the accompanying PPS and “Risk Factors” in the accompanying product supplement and prospectus supplement. This term sheet does not provide all of the information that an investor should consider prior to making an investment decision. The securities constitute our unsecured and unsubordinated obligations. The securities are not deposit liabilities of Barclays Bank PLC and are not covered by the U.K. Financial Services Compensation Scheme or insured by the U.S. Federal Deposit Insurance Corporation or any other governmental agency or deposit insurance agency of the United States, the United Kingdom or any other jurisdiction. |
Selected Risk Considerations
An investment in the securities involves significant risks. Investing in the securities is not equivalent to investing directly in either of the Underlying Stocks. You should carefully review the risk disclosures set forth under the “Risk Factors” sections of the prospectus supplement and product supplement and the “Selected Risk Considerations” section in the accompanying PPS. The risks set forth below are discussed in detail in the “Selected Risk Considerations” section in the accompanying PPS.
| · | If The Ending Price Of The Lowest Performing Underlying Stock Is Less Than Its Threshold Price, You Will Lose More Than 40%, And Possibly All, Of The Principal Amount Of Your Securities At Maturity. |
| · | The Potential Return On The Securities Is Limited To The Contingent Fixed Return And May Be Lower Than The Return On A Direct Investment In Any Underlying Stock. |
| · | You Will Receive The Contingent Fixed Return Only If The Ending Price Of The Lowest Performing Underlying Stock Is Greater Than Or Equal To Its Threshold Price. |
| · | No Periodic Interest Will Be Paid On The Securities. |
| · | The Securities Are Subject To The Full Risks Of Each Underlying Stock And Will Be Negatively Affected If Either Underlying Stock Performs Poorly, Even If The Other Underlying Stock Performs Favorably. |
| · | Your Return On The Securities Will Depend Solely On The Performance Of The Lowest Performing Underlying Stock, And You Will Not Benefit In Any Way From The Performance Of The Better Performing Underlying Stock. |
| · | You Will Be Subject To Risks Resulting From The Relationship Between The Underlying Stocks. |
| · | Any Payment On The Securities Will Be Determined Based On The Stock Closing Prices Of The Underlying Stocks On The Dates Specified. |
| · | Owning The Securities Is Not The Same As Owning Either Or Both Of The Underlying Stocks. |
| · | No Assurance That The Investment View Implicit In The Securities Will Be Successful. |
| · | The U.S. Federal Income Tax Consequences Of An Investment In The Securities Are Uncertain. |
| · | The Securities Are Subject To The Credit Risk Of Barclays Bank PLC. |
| · | 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. |
| · | There Are Risks Associated With Single Equities. |
| · | We Cannot Control Actions By An Underlying Stock Issuer. |
| · | We And Our Affiliates Have No Affiliation With Either Underlying Stock Issuer And Have Not Independently Verified Their Public Disclosure Of Information. |
| · | You Have Limited Anti-dilution Protection. |
| · | The Securities May Become Linked To The Common Stock Of A Company Other Than An Original Underlying Stock Issuer. |
| · | The Historical Performance Of The Underlying Stocks Is Not An Indication Of Their Future Performance. |
| · | Potentially Inconsistent Research, Opinions Or Recommendations By Barclays Capital Inc., Wells Fargo Securities, LLC Or Their Respective Affiliates. |
| · | We, Our Affiliates And Any Other Agent And/Or Participating Dealer May Engage In Various Activities Or Make Determinations That Could Materially Affect Your Securities In Various Ways And Create Conflicts Of Interest. |
| · | The Securities Will Not Be Listed On Any Securities Exchange And We Do Not Expect A Trading Market For The Securities To Develop. |
| · | The Value Of The Securities Prior To Maturity Will Be Affected By Numerous Factors, Some Of Which Are Related In Complex Ways. |
| · | The Estimated Value Of Your Securities Is Expected To Be Lower Than The Original Offering Price Of Your Securities. |
| · | The Estimated Value Of Your Securities Might Be Lower If Such Estimated Value Were Based On The Levels At Which Our Debt Securities Trade In The Secondary Market. |
| · | The Estimated Value Of The Securities Is Based On Our Internal Pricing Models, Which May Prove To Be Inaccurate And May Be Different From The Pricing Models Of Other Financial Institutions. |
| · | The Estimated Value Of Your Securities Is Not A Prediction Of The Prices At Which You May Sell Your Securities In The Secondary Market, If Any, And Such Secondary Market Prices, If Any, Will Likely Be Lower Than The Original Offering Price Of Your Securities And May Be Lower Than The Estimated Value Of Your Securities. |
| · | The Temporary Price At Which We May Initially Buy The Securities In The Secondary Market And The Value We May Initially Use For Customer Account Statements, If We Provide Any Customer Account Statements At All, May Not Be Indicative Of Future Prices Of Your Securities. |
Barclays Bank PLC has filed a registration statement (including a prospectus) with the SEC for the offering to which this term sheet relates. Before you invest, you should read the prospectus dated May 15, 2025, the prospectus supplement dated May 15, 2025, the product supplement no. WF-1 dated May 20, 2025, the PPS and other documents Barclays Bank PLC has filed with the SEC for more complete information about Barclays Bank PLC and this offering. You may get these documents and other documents Barclays Bank PLC has filed for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Barclays Bank PLC or any agent or dealer participating in this offering will arrange to send you each of these documents if you request them by calling your Barclays Bank PLC sales representative, such dealer or toll-free 1-888-227-2275 (Extension 2-3430). A copy of each of these documents may be obtained from Barclays Capital Inc., 745 Seventh Avenue—Attn: US InvSol Support, New York, NY 10019.
As used in this term sheet, “we,” “us” and “our” refer to Barclays Bank PLC. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. |
FAQ
What is the maturity date of Barclays' Partial Principal at Risk Securities (symbol VXZ)?
How much principal protection do these Barclays notes provide?
What is the maximum potential return on the Barclays S&P 500 notes?
Do the Barclays Partial Principal at Risk Securities pay interest or dividends?
Where will these notes trade after issuance?
Why is the estimated value below the $1,000 issue price?
