Costco – Type 424B2 BARCLAYS BANK PLC

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Pricing Complement dated December 1, 2020 (To the Prospectus dated August 1, 2019, the Prospectus Complement dated August 1, 2019, the Underlying Complement dated August 1, 2019 and the Prospectus Addendum dated May 11, 2020)

Filed Pursuant to Rule 424(b)(2) Registration No. 333—232144

$10,000,000 Barrier Mounted Coupon Notes due December 6, 2022 Linked to the Least Performing of Three Fairness Securities International Medium–Time period Notes, Sequence A

Phrases used on this pricing complement, however not outlined herein, shall have the meanings ascribed to them within the prospectus complement.

Issuer:	Barclays Bank PLC
Denominations:	Minimal denomination of $1,000, and integral multiples of $1,000 in extra thereof
Preliminary Valuation Date:	December 1, 2020
Difficulty Date:	December 4, 2020
Last Valuation Date:*	December 1, 2022
Maturity Date:*	December 6, 2022
Reference Belongings:	The widespread stock of Costco Wholesale Company (“COST”), the widespread stock of Eli Lilly and Firm (“LLY”) and the widespread stock of Xerox Holdings Company (“XRX”), as set forth within the following desk: Every of the securities set forth above are referred to herein as a “Reference Asset” and, collectively, because the “Reference Belongings.”
Coupon Funds:	$7.917 per $1,000 principal quantity Word, which is 0.7917% of the principal quantity per Word (primarily based on a 9.50% every year price), payable on every Coupon Cost Date
Coupon Cost Dates:**	The 4th calendar day of every month throughout the time period of the Notes, starting in January 2021 and ending on and together with the Maturity Date
Least Performing Reference Asset:	The Reference Asset with the bottom Reference Asset Return, as calculated within the method set forth beneath
Reference Asset Return:	With respect to every Reference Asset, an quantity calculated as follows: Last Worth — Preliminary Worth Preliminary Worth
Cost at Maturity:	In the event you maintain the Notes to maturity, you’ll obtain on the Maturity Date a cash fee per $1,000 principal quantity Word that you simply maintain (in every case, along with the ultimate Coupon Cost) decided as follows: ■    If the Last Worth of the Least Performing Reference Asset is larger than or equal to its Barrier Worth, you’ll obtain a fee of $1,000 per $1,000 principal quantity Word ■    If the Last Worth of the Least Performing Reference Asset is lower than its Barrier Worth, you’ll obtain an quantity per $1,000 principal quantity Word calculated as follows: $1,000 + [$1,000 × Reference Asset Return of the Least Performing Reference Asset] If the Last Worth of the Least Performing Reference Asset is lower than its Barrier Worth, your Notes will likely be totally uncovered to the decline of the Least Performing Reference Asset from its Preliminary Worth. You may lose as much as 100.00% of the principal quantity of your Notes at maturity (not together with the Coupon Funds on the Notes). Any fee on the Notes, together with any compensation of principal, just isn’t assured by any third celebration and is topic to (a) the creditworthiness of Barclays Bank PLC and (b) the chance of train of any U.Okay. Bail–in Energy (as described on web page PS-Four of this pricing complement) by the related U.Okay. decision authority. If Barclays Bank PLC had been to default on its fee obligations or change into topic to the train of any U.Okay. Bail–in Energy (or another decision measure) by the related U.Okay. decision authority, you won’t obtain any quantities owed to you underneath the Notes. See “Consent to UK. Bail-in Energy” and “Chosen Threat Concerns” on this pricing complement and “Threat Components” within the accompanying prospectus complement for extra info.
Consent to UK. Bail-in Energy:	However another agreements, preparations or understandings between Barclays Bank PLC and any holder or helpful proprietor of the Notes, by buying the Notes, every holder and helpful proprietor of the Notes acknowledges, accepts, agrees to be sure by, and consents to the train of, any UK. Bail-in Energy by the related UK. decision authority. See “Consent to UK. Bail-in Energy” on web page PS—4 of this pricing complement.

[Phrases of the Notes Proceed on the Subsequent Web page]

	Preliminary Difficulty price(1) (2)	price to Public	Agent’s Fee(3)	Proceeds to Barclays Bank PLC
Per Word	$1,000	100%	0.32%	99.68%
Whole	$10,000,000	$10,000,000	$32,000	$9,968,000

(1)

As a result of sellers who buy the Notes on the market to sure fee-based advisory accounts may forgo some or all promoting concessions, charges or commissions, the general public providing price for traders buying the Notes in such fee-based advisory accounts may be between $996.80 and $1,000 per Word. Traders that maintain their Notes in fee-based advisory or belief accounts may be charged charges by the funding advisor or supervisor of such account primarily based on the quantity of belongings held in these accounts, together with the Notes.

(3)	Barclays Capital Inc. will obtain commissions from the Issuer of $3.20 per $1,000 principal quantity Word. Barclays Capital Inc. will use these commissions to pay promoting concessions or charges (together with custodial or clearing charges) to different sellers.

We may use this pricing complement within the preliminary sale of Notes. As well as, Barclays Capital Inc. or one other of our associates may use this pricing complement in market resale transactions in any Notes after their preliminary sale. Until we or our agent informs you in any other case within the affirmation of sale, this pricing complement is being utilized in a market resale transaction.

The Notes won’t be listed on any U.S. securities exchange or citation system. Neither the U.S. Securities and Trade Fee (the “SEC”) nor any state securities fee has authorized or disapproved of those Notes or decided that this pricing complement is truthful or full. Any illustration on the contrary is a legal offense.

The Notes represent our unsecured and unsubordinated obligations. The Notes will not be deposit liabilities of Barclays Bank PLC and will not be coated by the U.Okay. Monetary Companies Compensation Scheme or insured by the U.S. Federal Deposit Insurance coverage Company or another governmental company or deposit insurance coverage company of the US, the UK or another jurisdiction.

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Phrases of the Notes, Continued

Preliminary Worth:***	With respect to every Reference Asset, the Closing Worth on November 30, 2020, as set forth within the desk above
Barrier Worth:	With respect to every Reference Asset, 60.00% of the Preliminary Worth, as set forth within the desk above
Last Worth:	With respect to every Reference Asset, the Closing Worth on the Last Valuation Date
Closing Worth:	The time period “Closing Worth” means the closing price of 1 share of any Reference Asset, as additional described underneath “Reference Belongings—Fairness Securities—Particular Calculation Provisions” within the prospectus complement, rounded to 2 decimal locations (if relevant)
Tax Allocation of the Coupon Funds:	Deposit Earnings: 0.59% every year Put Premium: 8.91% every year
Calculation Agent:	Barclays Bank PLC
CUSIP / ISIN:	06747QSF5 / US06747QSF53

*        Topic to postponement, as described underneath “Further Phrases of the Notes” on this pricing complement

**      If such day just isn’t a enterprise day, the related Coupon Cost will likely be paid on the subsequent following enterprise day with the identical drive and impact. No curiosity will accrue on account of any delayed fee.

***    The Preliminary Worth for every Reference Asset is the same as its Closing Worth on November 30, 2020. The Preliminary Values will not be primarily based on the Closing Worth of any Reference Asset at any time on the Preliminary Valuation Date. The Preliminary Valuation Date, as used on this pricing complement, refers back to the date on which the Notes had been initially priced on the market to the general public.

PS—2

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ADDITIONAL DOCUMENTS RELATED TO THE OFFERING OF THE NOTES

It’s best to learn this pricing complement along with the prospectus dated August 1, 2019, as supplemented by the paperwork listed beneath, regarding our International Medium-Time period Notes, Sequence A, of which these Notes are an element. This pricing complement, along with the paperwork listed beneath, comprises the phrases of the Notes and supersedes all prior or contemporaneous oral statements in addition to another written supplies together with preliminary or indicative pricing phrases, correspondence, commerce concepts, buildings for implementation, pattern buildings, brochures or different instructional supplies of ours. It’s best to fastidiously contemplate, amongst different issues, the issues set forth underneath “Threat Components” within the prospectus complement and “Chosen Threat Concerns” on this pricing complement, because the Notes contain dangers not related to standard debt securities. We urge you to seek the advice of your funding, authorized, tax, accounting and different advisors earlier than you spend money on the Notes.

You may entry these paperwork on the SEC web site at www.sec.gov as follows (or if such tackle has modified, by reviewing our filings for the related date on the SEC web site): 

●	Prospectus dated August 1, 2019:

●	Prospectus Complement dated August 1, 2019:

●	Underlying Complement dated August 1, 2019:

●	Prospectus Addendum dated May 11, 2020:

Our SEC file quantity is 1—10257. As used on this pricing complement, “we,” “us,” or “our” refers to Barclays Bank PLC.

PS—3

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However another agreements, preparations or understandings between us and any holder or helpful proprietor of the Notes, by buying the Notes, every holder and helpful proprietor of the Notes acknowledges, accepts, agrees to be sure by, and consents to the train of, any UK. Bail-in Energy by the related UK. decision authority.

Underneath the UK. Banking Act 2009, as amended, the related UK. decision authority may train a UK. Bail-in Energy in circumstances wherein the related UK. decision authority is glad that the decision circumstances are met. These circumstances embrace {that a} UK. bank or funding agency is failing or is more likely to fail to fulfill the Monetary Companies and Markets Act 2000 (the “FSMA”) threshold circumstances for authorization to hold on sure regulated actions (inside the which means of part 55B FSMA) or, within the case of a UK. banking group firm that could be a European Financial Space (“EEA”) or third nation establishment or funding agency, that the related EEA or third nation related authority is glad that the decision circumstances are met in respect of that entity.

The UK. Bail-in Energy consists of any write-down, conversion, switch, modification and/or suspension energy, which permits for (i) the discount or cancellation of all, or a portion, of the principal quantity of, curiosity on, or another quantities payable on, the Notes; (ii) the conversion of all, or a portion, of the principal quantity of, curiosity on, or another quantities payable on, the Notes into shares or different securities or different obligations of Barclays Bank PLC or one other individual (and the problem to, or conferral on, the holder or helpful proprietor of the Notes such shares, securities or obligations); and/or (iii) the modification or alteration of the maturity of the Notes, or modification of the quantity of curiosity or another quantities due on the Notes, or the dates on which curiosity or another quantities change into payable, together with by suspending fee for a brief interval; which UK. Bail-in Energy may be exercised by way of a variation of the phrases of the Notes solely to provide impact to the train by the related UK. decision authority of such UK. Bail-in Energy. Every holder and helpful proprietor of the Notes additional acknowledges and agrees that the rights of the holders or helpful homeowners of the Notes are topic to, and will likely be assorted, if needed, solely to provide impact to, the train of any UK. Bail-in Energy by the related UK. decision authority. For the avoidance of doubt, this consent and acknowledgment just isn’t a waiver of any rights holders or helpful homeowners of the Notes may have at legislation if and to the extent that any UK. Bail-in Energy is exercised by the related UK. decision authority in breach of legal guidelines relevant in England.

For extra info, please see “Chosen Threat Concerns—You May Lose Some or All of Your Funding If Any UK. Bail-in Energy Is Exercised by the Related UK. Decision Authority” on this pricing complement in addition to “UK. Bail-in Energy,” “Threat Components—Dangers Regarding the Securities Typically—Regulatory motion within the occasion a bank or funding agency within the Group is failing or more likely to fail might materially adversely have an effect on the value of the securities” and “Threat Components—Dangers Regarding the Securities Typically—Underneath the phrases of the securities, you’ve gotten agreed to be sure by the train of any UK. Bail-in Energy by the related UK. decision authority” within the accompanying prospectus complement.

PS—4

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Our inner pricing models have in mind plenty of variables and are primarily based on plenty of subjective assumptions, which may or may not materialize, sometimes together with volatility, rates of interest, and our inner funding charges. Our inner funding charges (that are our internally printed borrowing charges primarily based on variables corresponding to market benchmarks, our urge for food for borrowing, and our present obligations coming to maturity) may differ from the degrees at which our benchmark debt securities commerce within the secondary market. Our estimated value on the Preliminary Valuation Date relies on our inner funding charges. Our estimated value of the Notes may be decrease if such valuation had been primarily based on the degrees at which our benchmark debt securities commerce within the secondary market.

Our estimated value of the Notes on the Preliminary Valuation Date is lower than the preliminary subject price of the Notes. The distinction between the preliminary subject price of the Notes and our estimated value of the Notes is a results of a number of components, together with any gross sales commissions to be paid to Barclays Capital Inc. or one other affiliate of ours, any promoting concessions, reductions, commissions or charges (together with any structuring or different distribution associated charges) to be allowed or paid to non-affiliated intermediaries, the estimated revenue that we or any of our associates count on to earn in reference to structuring the Notes, the estimated value which we may incur in hedging our obligations underneath the Notes, and estimated growth and different prices which we may incur in reference to the Notes. 

Our estimated value on the Preliminary Valuation Date just isn’t a prediction of the price at which the Notes may commerce within the secondary market, nor will it’s the price at which Barclays Capital Inc. may purchase or promote the Notes within the secondary market. Topic to regular market and funding circumstances, Barclays Capital Inc. or one other affiliate of ours intends to supply to buy the Notes within the secondary market however it isn’t obligated to take action. 

Assuming that each one related components stay fixed after the Preliminary Valuation Date, the price at which Barclays Capital Inc. may initially purchase or promote the Notes within the secondary market, if any, and the value that we may initially use for buyer account statements, if we offer any buyer account statements in any respect, may exceed our estimated value on the Preliminary Valuation Date for a brief interval anticipated to be roughly six months after the Difficulty Date as a result of, in our discretion, we may elect to successfully reimburse to traders a portion of the estimated value of hedging our obligations underneath the Notes and different prices in reference to the Notes which we are going to now not count on to incur over the time period of the Notes. We made such discretionary election and decided this non permanent reimbursement interval on the premise of plenty of components, which may embrace the tenor of the Notes and/or any settlement we may have with the distributors of the Notes. The quantity of our estimated prices which we successfully reimburse to traders on this means may not be allotted ratably all through the reimbursement interval, and we may discontinue such reimbursement at any time or revise the period of the reimbursement interval after the preliminary Difficulty Date of the Notes primarily based on modifications in market circumstances and different components that can’t be predicted.

PS—5

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SELECTED PURCHASE CONSIDERATIONS

The Notes will not be appropriate for all traders. The Notes may be an appropriate funding for you if the entire following statements are true:

●	You perceive and settle for the chance that you’ll not take part in any appreciation of any Reference Asset, which may be important, and that your return potential on the Notes is restricted to the Coupon Funds paid on the Notes.

●	You anticipate that the Last Worth of the Least Performing Reference Asset will likely be larger than its Barrier Worth and also you settle for the chance that, if it isn’t, you may lose some or the entire principal quantity of your Notes (not together with the Coupon Funds on the Notes).

●	You possibly can tolerate a lack of a good portion or your whole principal quantity, and you might be prepared and in a position to make an funding that may have the total draw back market danger of an funding within the Least Performing Reference Asset.

●	You might be prepared and in a position to settle for the person market danger of every Reference Asset and perceive that any decline within the value of 1 Reference Asset won’t be offset or mitigated by a lesser decline or any potential enhance within the value of another Reference Asset.

●	You perceive and are prepared and in a position to settle for the dangers related to an funding linked to the efficiency of the Reference Belongings.

●

You perceive and settle for that you’ll not be entitled to obtain dividends or distributions that may be paid to holders of any Reference Asset or any securities to which any Reference Asset offers publicity, nor will you’ve gotten any voting rights with respect to any Reference Asset or any securities to which any Reference Asset offers publicity.

●	You possibly can tolerate fluctuations within the price of the Notes previous to scheduled maturity that may be much like or exceed the draw back fluctuations within the value of the Reference Belongings.

●	You don’t search an funding for which there will likely be an lively secondary market, and you might be prepared and in a position to maintain the Notes to maturity.

●	You might be prepared and in a position to assume our credit score danger for all funds on the Notes.

●	You might be prepared and in a position to consent to the train of any UK. Bail-in Energy by any related UK. decision authority.

The Notes may not be an appropriate funding for you if any of the next statements are true:

●

You don’t anticipate that the Last Worth of the Least Performing Reference Asset will likely be larger than its Buffer Worth and/or you might be unwilling or unable to just accept the chance that, if it isn’t, you may lose some or the entire principal quantity of your Notes (not together with the Coupon Funds on the Notes).

●	You search an funding that participates within the full appreciation of the Reference Belongings slightly than an funding with a return that’s restricted to the Coupon Funds paid on the Notes.

●	You might be unwilling or unable to just accept the person market danger of every Reference Asset and/or don’t perceive that any decline within the value of 1 Reference Asset won’t be offset or mitigated by a lesser decline or any potential enhance within the value of another Reference Asset.

●	You don’t perceive and/or are unwilling or unable to just accept the dangers related to an funding linked to the efficiency of the Reference Belongings.

●	You search an funding that entitles you to dividends or distributions on, or voting rights associated to any Reference Asset or any securities to which any Reference Asset offers publicity.

●	You might be unwilling or unable to just accept the chance that the unfavorable efficiency of just one Reference Asset may trigger you to endure a lack of principal at maturity, whatever the efficiency of another Reference Asset.

●	You can’t tolerate fluctuations within the price of the Notes previous to scheduled maturity that may be much like or exceed the draw back fluctuations within the value of the Reference Belongings.

●	You search an funding for which there will likely be an lively secondary market, and/or you might be unwilling or unable to carry the Notes to maturity.

●	You like the decrease danger, and due to this fact settle for the doubtless decrease returns, of mounted earnings investments with comparable maturities and credit score scores.

●	You might be unwilling or unable to imagine our credit score danger for all funds on the Notes.

●	You might be unwilling or unable to consent to the train of any UK. Bail-in Energy by any related UK. decision authority.

It’s essential to rely by yourself analysis of the deserves of an funding within the Notes. It’s best to attain a choice whether or not to spend money on the Notes after fastidiously contemplating, together with your advisors, the suitability of the Notes in gentle of your funding goals and the precise info set out on this pricing complement and the paperwork referenced underneath “Further Paperwork Associated to the Providing of the Notes” on this pricing complement. Neither the Issuer nor Barclays Capital Inc. makes any suggestion as to the suitability of the Notes for funding.

PS—6

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ADDITIONAL TERMS OF THE NOTES

The Last Valuation Date and the Maturity Date are topic to postponement in sure circumstances, as described underneath “Reference Belongings—Fairness Securities—Market Disruption Occasions for Securities with an Fairness Safety as a Reference Asset,” “Reference Belongings—Least or Finest Performing Reference Asset—Scheduled Buying and selling Days and Market Disruption Occasions for Securities Linked to the Reference Asset with the Lowest or Highest Return in a Group of Two or Extra Fairness Securities, Trade-Traded Funds and/or Indices of Fairness Securities” and “Phrases of the Notes—Cost Dates” within the accompanying prospectus complement.

As well as, the Reference Asset and the Notes are topic to adjustment by the Calculation Agent underneath sure circumstances, as described underneath “Reference Belongings—Fairness Securities—Share Changes Regarding Securities with an Fairness Safety as a Reference Asset” within the accompanying prospectus complement.

PS—7

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HYPOTHETICAL EXAMPLES OF AMOUNTS PAYABLE AT MATURITY

The next desk illustrates the hypothetical fee at maturity on the Notes underneath numerous circumstances. The “complete return” as used on this pricing complement is the quantity, expressed as a share, that outcomes from evaluating the mixture funds per $1,000 principal quantity Word to $1,000. The examples set forth beneath are purely hypothetical and are supplied for illustrative functions solely and may not be the precise complete returns relevant to a purchaser of the Notes. The numbers showing within the following desk and examples have been rounded for ease of research. The hypothetical examples beneath don’t have in mind any tax penalties from investing within the Notes and make the next key assumption:

■	Hypothetical Preliminary Worth of every Reference Asset: 100.00*

■	Hypothetical Barrier Worth of every Reference Asset: 60.00 (60.00% of the hypothetical Preliminary Worth)*

*    The hypothetical Preliminary Worth of 100.00 and the hypothetical Barrier Worth of 60.00 for every Reference Asset have been chosen for illustrative functions solely. The precise Preliminary Worth and Barrier Worth for every Reference Asset are as set forth on the duvet of this pricing complement. 

Last Worth				Reference Asset Return
COST	LLY	XRX		COST	LLY	XRX		Reference Asset Return of the Least Performing Reference Asset	Cost at Maturity(1)	Whole Return on Notes (Together with the Coupon Funds)
180.00	155.00	150.00		80.00%	55.00%	50.00%		50.00%	$1,000.00	19.00%
170.00	140.00	145.00		70.00%	40.00%	45.00%		40.00%	$1,000.00	19.00%
150.00	135.00	130.00		50.00%	35.00%	30.00%		30.00%	$1,000.00	19.00%
120.00	125.00	130.00		20.00%	25.00%	30.00%		20.00%	$1,000.00	19.00%
112.00	110.00	120.00		12.00%	10.00%	20.00%		10.00%	$1,000.00	19.00%
100.00	100.00	110.00		0.00%	0.00%	10.00%		0.00%	$1,000.00	19.00%
95.00	110.00	90.00		-5.00%	10.00%	-10.00%		-10.00%	$1,000.00	19.00%
80.00	90.00	102.00		-20.00%	-10.00%	2.00%		-20.00%	$1,000.00	19.00%
70.00	80.00	105.00		-30.00%	-20.00%	5.00%		-30.00%	$1,000.00	19.00%
60.00	75.00	120.00		-40.00%	-25.00%	20.00%		-40.00%	$1,000.00	19.00%
80.00	135.00	50.00		-20.00%	35.00%	-50.00%		-50.00%	$500.00	-31.00%
60.00	40.00	150.00		-40.00%	-60.00%	50.00%		-60.00%	$400.00	-41.00%
45.00	40.00	30.00		-55.00%	-60.00%	-70.00%		-70.00%	$300.00	-51.00%
20.00	55.00	50.00		-80.00%	-45.00%	-50.00%		-80.00%	$200.00	-61.00%
50.00	10.00	40.00		-50.00%	-90.00%	-60.00%		-90.00%	$100.00	-71.00%
0.00	105.00	25.00		-100.00%	5.00%	-75.00%		-100.00%	$0.00	-81.00%

(1)  per $1,000 principal quantity Word, excluding the ultimate Coupon Cost

The next examples illustrate how the funds at maturity set forth within the desk above are calculated:

Instance 1: The Last Worth of COST is 120.00, the Last Worth of LLY is 125.00 and the Last Worth of XRX is 130.00.

As a result of COST has the bottom Reference Asset Return, COST is the Least Performing Reference Asset. As a result of the Last Worth of the Least Performing Reference Asset is bigger than or equal its Buffer Worth, you’ll obtain a fee at maturity of $1,000.00 per $1,000 principal quantity Word, plus the ultimate Coupon Cost on the Notes.

The entire return on funding of the Notes, together with the Coupon Funds, is 19.00%, the utmost potential return on the Notes.

Instance 2: The Last Worth of COST is 80.00, the Last Worth of LLY is 90.00 and the Last Worth of XRX is 102.00.

As a result of COST has the bottom Reference Asset Return, COST is the Least Performing Reference Asset. As a result of the Last Worth of the Least Performing Reference Asset is bigger than or equal to its Buffer Worth, you’ll obtain a fee at maturity of $1,000.00 per $1,000 principal quantity Word that you simply maintain, plus the ultimate Coupon Funds on the Notes.

The entire return on funding of the Notes, together with the Coupon Funds, is 19.00%, the utmost potential return on the Notes.

Instance 3: The Last Worth of COST is 60.00, the Last Worth of LLY is 40.00 and the Last Worth of XRX is 150.00.

As a result of LLY has the bottom Reference Asset Return, LLY is the Least Performing Reference Asset. As a result of the Last Worth of the Least Performing Reference Asset is lower than its Buffer Worth, you’ll obtain a fee at maturity of $400.00 per $1,000 principal quantity Word that you simply maintain (plus the ultimate Coupon Cost in your Notes), calculated as follows

$1,000 + [$1,000 × Reference Asset Return of the Least Performing Reference Asset]

$1,000 + [$1,000 × -60.00%] = $400.00

The entire return on funding of the Notes, together with the Coupon Funds, is -41.00%

PS—8

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Instance 4: The Last Worth of COST is 45.00, the Last Worth of LLY is 40.00 and the Last Worth of XRX is 30.00.

As a result of XRX has the bottom Reference Asset Return, XRX is the Least Performing Reference Asset. As a result of the Last Worth of the Least Performing Reference Asset is lower than its Buffer Worth, you’ll obtain a fee at maturity of $300.00 per $1,000 principal quantity Word that you simply maintain (plus the ultimate Coupon Cost in your Notes), calculated as follows:

$1,000 + [$1,000 × Reference Asset Return of the Least Performing Reference Asset]

$1,000 + [$1,000 × -70.00%] = $300.00

The entire return on funding of the Notes, together with the Coupon Funds, is -51.00%. 

PS—9

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An funding within the Notes entails important dangers. Investing within the Notes just isn’t equal to investing straight within the Reference Asset or its elements, if any. Among the dangers that apply to an funding within the Notes are summarized beneath, however we urge you to learn the extra detailed clarification of dangers regarding the Notes typically within the “Threat Components” part of the prospectus complement. You shouldn’t buy the Notes until you perceive and might bear the dangers of investing within the Notes. 

●

Your Funding within the Notes May Lead to a Vital Loss—The Notes differ from extraordinary debt securities in that the Issuer won’t essentially repay the total principal quantity of the Notes at maturity. If the Last Worth of the Least Performing Reference Asset is lower than its Barrier Worth, your Notes will likely be totally uncovered to the decline of the Least Performing Reference Asset from its Preliminary Worth. You may lose as much as 100.00% of the principal quantity of your Notes (not together with the Coupon Funds on the Notes).

●

Potential Return Restricted to the Coupon Funds on the Notes, and You Will Not Take part in Any Appreciation of Any Reference Asset—The constructive return on the Notes is restricted to the Coupon Funds. You’ll not take part in any appreciation within the value of any Reference Asset, which may be important, and you’ll not obtain greater than the principal quantity of your Notes at maturity (plus the ultimate Coupon Cost) even when a number of of the Reference Belongings have appreciated over the time period of the Notes.

●

You Are Uncovered to the Market Threat of Every Reference Asset—Your return on the Notes just isn’t linked to a basket consisting of the Reference Belongings. Slightly, will probably be contingent upon the unbiased efficiency of every Reference Asset. In contrast to an instrument with a return linked to a basket of underlying belongings wherein danger is mitigated and diversified amongst all of the elements of the basket, you may be uncovered to the dangers associated to every Reference Asset. Poor efficiency by any Reference Asset over the time period of the Notes may negatively have an effect on your return and won’t be offset or mitigated by any will increase or lesser declines within the value of another Reference Asset. If the Last Worth of the Least Performing Reference Asset is lower than its Barrier Worth, you’ll be uncovered to the total decline within the Least Performing Reference Asset from its Preliminary Worth. Accordingly, your funding is topic to the market danger of every Reference Asset.

●

The Notes Are Topic to Volatility Threat—Volatility is a measure of the diploma of variation within the price of an asset (or degree of an index) over a time period. The quantity of any coupon funds that may be payable underneath the Notes relies on plenty of components, together with the anticipated volatility of the Reference Belongings. The quantity of such coupon funds will likely be paid at a every year price that’s increased than the mounted price that we might pay on a traditional debt safety of the identical tenor and is increased than it in any other case would have been had the anticipated volatility of the Reference Belongings been decrease. As volatility of a Reference Asset will increase, there’ll sometimes be a larger chance that the value of the Last Worth of that Reference Asset will likely be lower than its Buffer Worth.

Accordingly, it’s best to perceive {that a} increased coupon fee quantity displays, amongst different issues, a sign of a larger chance that you’ll incur a lack of principal at maturity than would have been the case had the quantity of such coupon funds been decrease. As well as, precise volatility over the time period of the Notes may be considerably increased than anticipated volatility on the time the phrases of the Notes had been decided. If precise volatility is increased than anticipated, you’ll face a good larger danger that you’ll lose some or your whole principal at maturity for the explanations described above.

●

The Cost at Maturity of Your Notes is Primarily based Solely on the Closing Worth of the Least Performing Reference Asset on the Last Valuation Date—The Last Worth of the Reference Belongings will likely be primarily based solely on its Closing Worth on the Last Valuation Date. Accordingly, if the value of the Least Performing Reference Asset drops on the Last Valuation Date, the fee at maturity on the Notes may be considerably lower than it might have been had it been linked to the value of the Reference Asset at any time previous to such drop. If the Last Worth of the Least Performing Reference Asset is lower than its Barrier Worth, you’ll be uncovered to the total decline within the Least Performing Reference Asset from its Preliminary Worth. Your losses won’t be offset in any means by advantage of the Reference Asset Return of any Reference Asset being increased than the Reference Asset Return of the Least Performing Reference Asset.

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Credit score of Issuer—The Notes are unsecured and unsubordinated debt obligations of the Issuer, Barclays Bank PLC, and will not be, both straight or not directly, an obligation of any third celebration. Any fee to be made on the Notes, together with any compensation of principal, is topic to the flexibility of Barclays Bank PLC to fulfill its obligations as they arrive due and isn’t assured by any third celebration. Because of this, the precise and perceived creditworthiness of Barclays Bank PLC may have an effect on the market value of the Notes, and in the occasion Barclays Bank PLC had been to default on its obligations, you may not obtain any quantities owed to you underneath the phrases of the Notes.

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You May Lose Some or All of Your Funding If Any U.Okay. Bail–in Energy Is Exercised by the Related U.Okay. Decision Authority—However another agreements, preparations or understandings between Barclays Bank PLC and any holder or helpful proprietor of the Notes, by buying the Notes, every holder and helpful proprietor of the Notes acknowledges, accepts, agrees to be sure by, and consents to the train of, any UK. Bail-in Energy by the related UK. decision authority as set forth underneath “Consent to UK. Bail-in Energy” on this pricing complement. Accordingly, any UK. Bail-in Energy may be exercised in such a fashion as to lead to you and different holders and helpful homeowners of the Notes shedding all or part of the value of your funding within the Notes or receiving a special safety from the Notes, which may be worth considerably lower than the Notes and which may have considerably fewer protections than these sometimes afforded to debt securities. Furthermore, the related UK. decision authority may train the UK. Bail-in Energy with out offering any advance discover to, or requiring the consent of, the holders and the helpful homeowners of the Notes. The train of any UK. Bail-in Energy by the related UK. decision authority with respect to the Notes won’t be a default or an Occasion of Default (as every time period is outlined within the senior debt securities indenture) and the trustee won’t be chargeable for any motion that the trustee takes, or abstains from taking, in both case, in accordance with the train of the

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UK. Bail-in Energy by the related UK. decision authority with respect to the Notes. See “Consent to UK. Bail-in Energy” on this pricing complement in addition to “UK. Bail-in Energy,” “Threat Components—Dangers Regarding the Securities Typically—Regulatory motion within the occasion a bank or funding agency within the Group is failing or more likely to fail might materially adversely have an effect on the value of the securities” and “Threat Components—Dangers Regarding the Securities Typically—Underneath the phrases of the securities, you’ve gotten agreed to be sure by the train of any UK. Bail-in Energy by the related UK. decision authority” within the accompanying prospectus complement.

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Proudly owning the Notes is Not the Similar as Proudly owning Any Reference Asset or Any Securities to which Any Reference Asset Supplies Publicity—The return on the Notes may not replicate the return you’ll understand in case you really owned any Reference Asset or any securities to which any Reference Asset offers publicity. As a holder of the Notes, you’ll not have voting rights or rights to obtain dividends or different distributions or another rights that holders of any Reference Asset or any securities to which any Reference Asset offers publicity may have.

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Historic Efficiency of the Reference Belongings Ought to Not Be Taken as Any Indication of the Future Efficiency of the Reference Belongings Over the Time period of the Notes—The value of every Reference Asset has fluctuated previously and may, sooner or later, expertise important fluctuations. The historic efficiency of a Reference Asset just isn’t a sign of the long run efficiency of that Reference Asset over the time period of the Notes. The historic correlation among the many Reference Belongings just isn’t a sign of the long run correlation amongst them over the time period of the Notes. Due to this fact, the efficiency of the Reference Belongings individually or as compared to one another over the time period of the Notes may bear no relation or resemblance to the historic efficiency of any Reference Asset.

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Single Fairness Threat—The value of every Reference Asset can rise or fall sharply on account of components particular to the related Reference Asset and its issuer, corresponding to stock price volatility, earnings, monetary circumstances, company, trade and regulatory developments, administration modifications and choices and different occasions, in addition to normal market components, corresponding to normal stock market volatility and ranges, rates of interest and financial and political circumstances. We urge you to evaluation monetary and different info filed periodically with the SEC by the issuer of every Reference Asset. We have now not undertaken any unbiased evaluation or due diligence of any Reference Asset issuer’s SEC filings or of another publicly obtainable info relating to any such issuer.

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Anti-Dilution Safety Is Restricted, and the Calculation Agent Has Discretion to Make Anti-Dilution Changes—The Calculation Agent may in its sole discretion make changes affecting the quantities payable on the Notes upon the prevalence of sure company occasions (corresponding to stock splits or extraordinary or particular dividends) that the Calculation Agent determines have a diluting or concentrative impact on the theoretical value of any Reference Asset. Nonetheless, the Calculation Agent won’t make such changes in response to all occasions that might have an effect on any Reference Asset. The prevalence of any such occasion and any adjustment made by the Calculation Agent (or a dedication by the Calculation Agent to not make any adjustment) may adversely have an effect on any quantities payable on the Notes. See “Reference Belongings—Fairness Securities—Share Changes Regarding Securities with an Fairness Safety as a Reference Asset” within the accompanying prospectus complement.

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Reorganization Or Different Occasions May Adversely Have an effect on the Worth of the Notes Or Outcome within the Notes Being Accelerated—Upon the prevalence of sure reorganization occasions or a nationalization, expropriation, liquidation, chapter, insolvency or de-listing of any Reference Asset, the Calculation Agent will make changes to that Reference Asset that may lead to funds on the Notes being primarily based on the efficiency of shares, cash or different belongings distributed to holders of that Reference Asset upon the prevalence of such occasion or, in some instances, the Calculation Agent may speed up the maturity date for a fee decided by the Calculation Agent. Any of those actions might adversely have an effect on the value of any Reference Asset and, consequently, the value of the Notes. Any quantity payable upon acceleration may very well be considerably lower than the quantity(s) that might be due on the Notes in the event that they weren’t accelerated. See “Reference Belongings—Fairness Securities—Share Changes Regarding Securities with an Fairness Safety as a Reference Asset” within the accompanying prospectus complement.

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The Estimated Worth of Your Notes is Decrease Than the Preliminary Difficulty price of Your Notes—The estimated value of your Notes on the Preliminary Valuation Date is decrease than the preliminary subject price of your Notes. The distinction between the preliminary subject price of your Notes and the estimated value of the Notes is a results of sure components, corresponding to any gross sales commissions to be paid to Barclays Capital Inc. or one other affiliate of ours, any promoting concessions, reductions, commissions or charges (together with any structuring or different distribution associated charges) to be allowed or paid to non-affiliated intermediaries, the estimated revenue that we or any of our associates count on to earn in reference to structuring the Notes, the estimated value which we may incur in hedging our obligations underneath the Notes, and estimated growth and different prices which we may incur in reference to the Notes.

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The Estimated Worth of Your Notes Is perhaps Decrease if Such Estimated Worth Had been Primarily based on the Ranges at Which Our Debt Securities Commerce within the Secondary Market—The estimated value of your Notes on the Preliminary Valuation Date relies on plenty of variables, together with our inner funding charges. Our inner funding charges may differ from the degrees at which our benchmark debt securities commerce within the secondary market. Because of this distinction, the estimated values referenced above is perhaps decrease if such estimated values had been primarily based on the degrees at which our benchmark debt securities commerce within the secondary market.

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The Estimated Worth of the Notes is Primarily based on Our Inner Pricing Models, Which May Show to be Inaccurate and May be Completely different from the Pricing Models of Different Monetary Establishments—The estimated value of your Notes on the Preliminary Valuation Date relies on our inner pricing models, which have in mind plenty of variables and are primarily based on plenty of subjective assumptions, which may or may not materialize. These variables and assumptions will not be evaluated or verified on an unbiased foundation. Additional, our pricing models may be completely different from different monetary establishments’ pricing models and the methodologies utilized by us to estimate the value of the Notes may not be in step with these of different monetary establishments which may be purchasers or sellers of Notes within the secondary market. Because of this, the secondary market price of your Notes may be materially completely different from the estimated value of the Notes decided by reference to our inner pricing models.

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The Estimated Worth of Your Notes Is Not a Prediction of the Costs at Which You May Promote Your Notes within the Secondary Market, if any, and Such Secondary Market Costs, If Any, Will Doubtless be Decrease Than the Preliminary Difficulty price of Your Notes and May be Decrease Than the Estimated Worth of Your Notes—The estimated value of the Notes won’t be a prediction of the costs at which Barclays Capital Inc., different associates of ours or third events may be prepared to buy the Notes from you in secondary market transactions (if they’re prepared to buy, which they don’t seem to be obligated to do). The price at which you may be capable to promote your Notes within the secondary market at any time will likely be influenced by many components that can’t be predicted, corresponding to market circumstances, and any bid and ask unfold for comparable sized trades, and may be considerably lower than our estimated value of the Notes. Additional, as secondary market costs of your Notes have in mind the degrees at which our debt securities commerce within the secondary market, and don’t have in mind our numerous prices associated to the Notes corresponding to charges, commissions, reductions, and the prices of hedging our obligations underneath the Notes, secondary market costs of your Notes will probably be decrease than the preliminary subject price of your Notes. Because of this, the price at which Barclays Capital Inc., different associates of ours or third events may be prepared to buy the Notes from you in secondary market transactions, if any, will probably be decrease than the price you paid on your Notes, and any sale previous to the Maturity Date might lead to a considerable loss to you.

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The Non permanent price at Which We May Initially Purchase The Notes within the Secondary Market And the Worth We May Initially Use for Buyer Account Statements, If We Present Any Buyer Account Statements At All, May Not Be Indicative of Future Costs of Your Notes—Assuming that each one related components stay fixed after the Preliminary Valuation Date, the price at which Barclays Capital Inc. may initially purchase or promote the Notes within the secondary market (if Barclays Capital Inc. makes a market within the Notes, which it isn’t obligated to do) and the value that we may initially use for buyer account statements, if we offer any buyer account statements in any respect, may exceed our estimated value of the Notes on the Preliminary Valuation Date, in addition to the secondary market value of the Notes, for a brief interval after the preliminary Difficulty Date of the Notes. The price at which Barclays Capital Inc. may initially purchase or promote the Notes within the secondary market and the value that we may initially use for buyer account statements may not be indicative of future costs of your Notes.

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We and Our Associates May Interact in Numerous Actions or Make Determinations That May Materially Have an effect on the Notes in Numerous Methods and Create Conflicts of Curiosity—We and our associates play a wide range of roles in reference to the issuance of the Notes, as described beneath. In performing these roles, our and our associates’ financial pursuits are doubtlessly hostile to your pursuits as an investor within the Notes.

In reference to our regular enterprise actions and in reference to hedging our obligations underneath the Notes, we and our associates make markets in and commerce numerous monetary devices or merchandise for our accounts and for the account of our purchasers and in any other case present funding banking and different monetary companies with respect to those monetary devices and merchandise. These monetary devices and merchandise may embrace securities, spinoff devices or belongings that may relate to every Reference Belongings or their elements, if any. In any such market making, buying and selling and hedging exercise, and different monetary companies, we or our associates may take positions or take actions which are inconsistent with, or hostile to, the funding goals of the holders of the Notes. We and our associates haven’t any obligation to take the wants of any purchaser, vendor or holder of the Notes under consideration in conducting these actions. Such market making, buying and selling and hedging exercise, funding banking and different monetary companies may negatively impression the value of the Notes.

As well as, the position performed by Barclays Capital Inc., because the agent for the Notes, might current important conflicts of curiosity with the position of Barclays Bank PLC, as issuer of the Notes. For instance, Barclays Capital Inc. or its representatives may derive compensation or monetary profit from the distribution of the Notes and such compensation or monetary profit may function incentive to promote the Notes as a substitute of different investments. Moreover, we and our associates set up the providing price of the Notes for preliminary sale to the general public, and the providing price just isn’t primarily based upon any unbiased verification or valuation.

Along with the actions described above, we will even act because the Calculation Agent for the Notes. As Calculation Agent, we are going to decide any values of the Reference Belongings and make another determinations essential to calculate any funds on the Notes. In making these determinations, the Calculation Agent may be required to make discretionary judgements regarding the Reference Belongings, together with figuring out whether or not a market disruption occasion has occurred or whether or not sure changes to the Reference Belongings or different phrases of the Notes are needed, as additional described within the accompanying prospectus complement. In making these discretionary judgments, our financial pursuits are doubtlessly hostile to your pursuits as an investor within the Notes, and any of those determinations may adversely have an effect on any funds on the Notes.

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Lack of Liquidity—The Notes won’t be listed on any securities exchange. Barclays Capital Inc. and different associates of Barclays Bank PLC intend to make a secondary marketplace for the Notes however will not be required to take action, and may discontinue any such secondary market making at any time, with out discover. Barclays Capital Inc. may at any time maintain unsold stock, which may inhibit the event of a secondary marketplace for the Notes. Even when there’s a secondary market, it may not present sufficient liquidity to permit you to commerce or promote the Notes simply. As a result of different sellers will not be more likely to make a secondary marketplace for the Notes, the price at which you may be capable to commerce your Notes is more likely to rely on the price, if any, at which Barclays Capital Inc. and different associates of Barclays Bank PLC are prepared to purchase the Notes. The Notes will not be designed to be short-term buying and selling devices. Accordingly, you have to be prepared and in a position to maintain your Notes to maturity.

●	Tax Remedy—Vital features of the tax therapy of the Notes are unsure. It’s best to seek the advice of your tax advisor about your tax scenario. See “Tax Concerns” beneath.

●	Many Financial and Market Components Will Impression the Worth of the Notes—The value of the Notes will likely be affected by plenty of financial and market components that work together in advanced and unpredictable methods and that may both offset or amplify one another, together with:

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o	the market price of, dividend price on and anticipated volatility of the Reference Belongings and the elements of every Reference Asset;

o	correlation (or lack of correlation) of the Reference Belongings;

o	the time to maturity of the Notes;

o	curiosity and yield charges available in the market typically;

o	a wide range of financial, monetary, political, regulatory or judicial occasions;

o	provide and demand for the Notes; and

o	our creditworthiness, together with precise or anticipated downgrades in our credit score scores.

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INFORMATION REGARDING THE REFERENCE ASSETS

We urge you to learn the next part within the accompanying prospectus complement: “Reference Belongings—Fairness Securities—Reference Asset Issuer and Reference Asset Info.” Corporations with securities registered underneath the Securities Trade Act of 1934, as amended, which is usually known as the “Trade Act,” and the Funding Firm Act of 1940, as amended, which is usually known as the “’40 Act,” are required to periodically file sure monetary and different info specified by the SEC. Info supplied to or filed with the SEC electronically could be accessed by means of a web site maintained by the SEC. The tackle of the SEC’s web site is http://www.sec.gov. Info supplied to or filed with the SEC pursuant to the Trade Act or the ’40 Act by the corporate issuing every Reference Asset could be positioned by reference to the respective SEC file quantity specified beneath.

The abstract info beneath relating to every Reference Asset comes from every firm’s respective SEC filings. You might be urged to confer with the SEC filings made by the related firm and to different publicly obtainable info (corresponding to the corporate’s annual report) to acquire an understanding of the corporate’s enterprise and monetary prospects. The abstract info contained beneath just isn’t designed to be, and shouldn’t be interpreted as, an effort to current info relating to the monetary prospects of any issuer or any tendencies, occasions or different components that may have a constructive or unfavorable affect on these prospects or as an endorsement of any specific firm. We have now not undertaken any unbiased evaluation or due diligence of the SEC filings of the issuer of any of the Reference Belongings or of another publicly obtainable info relating to every such issuer.

Info from outdoors sources just isn’t integrated by reference in, and shouldn’t be thought of a part of, this pricing complement or any accompanying prospectus or prospectus complement. We have now not undertaken any unbiased evaluation or due diligence of the SEC filings of any Reference Asset or another publicly obtainable info relating to any Reference Asset.

We obtained the historic buying and selling value info with respect to every Reference Asset set forth beneath from Bloomberg Skilled^® service (“Bloomberg”). We have now not independently verified the accuracy or completeness of the knowledge obtained from Bloomberg.

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Costco Wholesale Company

In line with publicly obtainable info, Costco Wholesale Company operates membership warehouses.

Info filed by Costco Wholesale Company with the SEC underneath the Trade Act could be positioned by reference to its SEC file quantity: 000—20355. The widespread stock of Costco Wholesale Company is listed on the Nasdaq International Choose Market underneath the ticker image “COST.”

Historic Efficiency of the Widespread Stock of Costco Wholesale Company 

The graph beneath units forth the historic efficiency of Costco Wholesale Company primarily based on the every day Closing Worth from January 2, 2015 by means of December 1, 2020. These historic buying and selling values may have been adjusted to replicate sure company actions corresponding to stock splits and reverse stock splits.

Historic Efficiency of the Widespread Stock of Costco Wholesale Company

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

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Eli Lilly and Firm

In line with publicly obtainable info, Eli Lilly and Firm discovers, develops, manufactures, and market human pharma-ceutical merchandise.

Info filed by Eli Lilly and Firm with the SEC underneath the Trade Act could be positioned by reference to its SEC file quantity: 001-06351. The widespread stock of Eli Lilly and Firm is listed on the New York Stock Trade underneath the ticker image “LLY.”

Historic Efficiency of the Widespread Stock of Eli Lilly and Firm

The graph beneath units forth the historic efficiency of Eli Lilly and Firm primarily based on the every day Closing Worth from January 2, 2015 by means of December 1, 2020. These historic buying and selling values may have been adjusted to replicate sure company actions corresponding to stock splits and reverse stock splits.

Historic Efficiency of the Widespread Stock of Eli Lilly and Firm

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

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Xerox Holdings Company

In line with publicly obtainable info, Xerox Holdings Company is a office expertise firm, constructing and integrating software program and {hardware}.

Info filed by Xerox Holdings Company with the SEC underneath the Trade Act could be positioned by reference to its SEC file quantity: 001—39013. The widespread stock of Xerox Holdings Company is listed on the New York Stock Trade underneath the ticker image “XRX.”

Historic Efficiency of the Widespread Stock of Xerox Holdings Company 

The graph beneath units forth the historic efficiency of Xerox Holdings Company primarily based on the every day Closing Worth from January 2, 2015 by means of December 1, 2020. These historic buying and selling values may have been adjusted to replicate sure company actions corresponding to stock splits and reverse stock splits.

Historic Efficiency of the Widespread Stock of Xerox Holdings Company 

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

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TAX CONSIDERATIONS

It’s best to evaluation fastidiously the sections within the accompanying prospectus complement entitled “Materials U.S. Federal Earnings Tax Penalties—Tax Penalties to U.S. Holders—Notes Handled as Put Choices and Deposits” and, if you’re a non-U.S. holder, “—Tax Penalties to Non-U.S. Holders.” The next dialogue, when learn together with these sections, constitutes the total opinion of our particular tax counsel relating to the fabric U.S. federal earnings tax penalties of proudly owning and disposing of the Notes. 

Because of the lack of direct authorized authority, there may be substantial uncertainty relating to the U.S. federal earnings tax penalties of an funding within the Notes. Our particular tax counsel, Davis Polk & Wardwell LLP, believes that it’s cheap to deal with a Word for U.S. federal earnings tax functions as a put choice (the “Put Possibility”) written by you to us with respect to the Reference Belongings, secured by a cash deposit equal to the preliminary subject price of the Word (the “Deposit”), which could have an annual yield primarily based on our value of borrowing, as proven beneath. If this therapy is revered, solely a portion of every coupon fee will likely be attributable to curiosity on the Deposit; the rest will symbolize premium attributable to your grant of the Put Possibility (“Put Premium”). By buying the Notes, you comply with deal with the Notes for U.S. federal earnings tax functions persistently with the therapy and allocation as described above. We are going to comply with this method in figuring out our info reporting obligations, if any. The next dialogue supersedes the dialogue within the accompanying prospectus complement to the extent it’s inconsistent therewith.

Assuming the therapy and allocation described above are revered, curiosity on the Deposit will likely be taxed as extraordinary earnings, whereas the Put Premium won’t be taken under consideration previous to the taxable disposition of the Notes (together with redemption at maturity). Assuming that you’re an preliminary purchaser of Notes buying the Notes on the preliminary subject price for cash, (i) in case your Notes are held to maturity and the Put Possibility expires unexercised (i.e., you obtain a cash fee—not together with the ultimate coupon fee—at maturity equal to the quantity of the Deposit), you’ll acknowledge short-term capital achieve in an quantity equal to the entire Put Premium acquired, and (ii) if, as a substitute, the Put Possibility is deemed to be exercised at maturity (i.e., you obtain a cash fee at maturity—not together with the ultimate coupon fee—that’s lower than the quantity of the Deposit), you’ll acknowledge short-term capital achieve or loss in an quantity equal to the distinction between (x) the entire Put Premium acquired and (y) the cash settlement value of the Put Possibility (i.e., the quantity of the Deposit minus the cash you obtain at maturity, not together with the ultimate coupon fee). 

There are, nevertheless, different cheap remedies that the Inner Income Service (the “IRS”) or a court docket may undertake for the Notes, wherein case the timing and character of your earnings or loss may very well be materially and adversely affected. As well as, in 2007 the U.S. Treasury Division and the IRS launched a discover requesting feedback on the U.S. federal earnings tax therapy of “pay as you go ahead contracts” and comparable devices. The discover focuses on plenty of points, probably the most related of which for traders within the Notes are the character of earnings or loss (together with whether or not the Put Premium is perhaps presently included as extraordinary earnings) and the diploma, if any, to which earnings realized by non-U.S. traders must be topic to withholding tax. Whereas it isn’t clear whether or not the Notes could be seen as much like the everyday pay as you go ahead contract described within the discover, it’s potential that any Treasury laws or different steerage promulgated after consideration of those points might materially and adversely have an effect on the tax penalties of an funding within the Notes, probably with retroactive impact. It’s best to seek the advice of your tax advisor relating to all features of the U.S. federal earnings tax penalties of an funding within the Notes, together with potential various remedies and the problems offered by this discover. Purchasers who will not be preliminary purchasers of Notes on the preliminary subject price also needs to seek the advice of their tax advisors with respect to the tax penalties of an funding within the Notes, together with potential various remedies, in addition to the allocation of the acquisition price of the Notes between the Deposit and the Put Possibility.

The discussions above and within the accompanying prospectus complement don’t tackle the implications to taxpayers topic to particular tax accounting guidelines underneath Part 451(b).

Treasury laws underneath Part 871(m) typically impose a withholding tax on sure “dividend equivalents” underneath sure “fairness linked devices.” A current IRS discover excludes from the scope of Part 871(m) devices issued previous to January 1, 2023 that would not have a “delta of 1” with respect to underlying securities that might pay U.S.-source dividends for U.S. federal earnings tax functions (every an “Underlying Safety”). Primarily based on our dedication that the Notes would not have a “delta of 1” inside the which means of the laws, our particular tax counsel is of the opinion that these laws shouldn’t apply to the Notes with regard to non-U.S. holders. Our dedication just isn’t binding on the IRS, and the IRS may disagree with this dedication. Part 871(m) is advanced and its software may rely in your specific circumstances, together with whether or not you enter into different transactions with respect to an Underlying Safety. It’s best to seek the advice of your tax advisor relating to the potential software of Part 871(m) to the Notes.

In line with the place described above, beneath are the parts of every coupon fee that we intend, in figuring out our reporting obligations (if any), to deal with as attributable to curiosity on the Deposit and to Put Premium:

Coupon Cost price per Annum	Curiosity on Deposit per Annum	Put Premium per Annum
9.50%	0.59%	8.91%

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SUPPLEMENTAL PLAN OF DISTRIBUTION

We have now agreed to promote to Barclays Capital Inc. (the “Agent”), and the Agent has agreed to buy from us, the principal quantity of the Notes, and on the price, specified on the duvet of this pricing complement. The Agent commits to take and pay for the entire Notes, if any are taken.

VALIDITY OF THE NOTES

Within the opinion of Davis Polk & Wardwell LLP, as particular United States merchandise counsel to Barclays Bank PLC, when the Notes supplied by this pricing complement have been executed and issued by Barclays Bank PLC and authenticated by the trustee pursuant to the indenture, and delivered towards fee as contemplated herein, such Notes will likely be legitimate and binding obligations of Barclays Bank PLC, enforceable in accordance with their phrases, topic to relevant chapter, insolvency and comparable legal guidelines affecting collectors’ rights typically, ideas of reasonableness and equitable rules of normal applicability (together with, with out limitation, ideas of excellent religion, truthful dealing and the shortage of dangerous religion) and potential judicial or regulatory actions giving impact to governmental actions or international legal guidelines affecting collectors’ rights, supplied that such counsel expresses no opinion as to the impact of fraudulent conveyance, fraudulent switch or comparable provision of relevant legislation on the conclusions expressed above. This opinion is given as of the date hereof and is restricted to the legal guidelines of the State of New York. Insofar as this opinion entails issues ruled by English legislation, Davis Polk & Wardwell LLP has relied, with Barclays Bank PLC’s permission, on the opinion of Davis Polk & Wardwell London LLP, dated as of August 3, 2020, filed as an exhibit to a report on Type 6-Okay by Barclays Bank PLC on August 3, 2020, and this opinion is topic to the identical assumptions, {qualifications} and limitations as set forth in such opinion of Davis Polk & Wardwell London LLP. As well as, this opinion is topic to customary assumptions concerning the trustee’s authorization, execution and supply of the indenture and its authentication of the Notes and the validity, binding nature and enforceability of the indenture with respect to the trustee, all as acknowledged within the letter of Davis Polk & Wardwell LLP, dated August 3, 2020, which has been filed as an exhibit to the report on Type 6-Okay referred to above.

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