Form FWP BARCLAYS BANK PLC Filed by: BARCLAYS BANK PLC
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Free Writing Prospectus
Filed pursuant to Rule 433
Registration Statement No. 333-287303
Dated May 4, 2026
| AUTOCALLABLE LEVERAGED INDEX RETURN NOTES® (LIRNs®) |
|
| Autocallable Leveraged Index Return Notes® Linked to a Basket of Fifteen Technology Sector Stocks |
| Issuer |
Barclays Bank PLC (“Barclays”). References on this page to “we,” “us” or “our” mean Barclays. |
| Principal Amount |
$10.00 per unit |
| Term |
Approximately two years, if not called on the Observation Date |
| Market Measure |
An approximately equally weighted basket (the “Basket”) of fifteen technology sector stocks composed of the common stock of Adobe Inc. (Nasdaq symbol: “ADBE”), the Class A common stock of AppLovin Corporation (Nasdaq symbol: “APP”), the common stock of Cadence Design Systems, Inc. (Nasdaq symbol: “CDNS”), the common stock of Salesforce, Inc. (NYSE symbol: “CRM”), the common stock of Cisco Systems, Inc. (Nasdaq symbol: “CSCO”), the common stock of Dynatrace, Inc. (NYSE symbol: “DT”), the common stock of HubSpot, Inc. (NYSE symbol: “HUBS”), the common stock of Intuit Inc. (Nasdaq symbol: “INTU”), the common stock of Microsoft Corporation (Nasdaq symbol: “MSFT”), the common stock of ServiceNow, Inc. (NYSE symbol: “NOW”), the common stock of Oracle Corporation (NYSE symbol: “ORCL”), the common stock of Palo Alto Networks, Inc. (Nasdaq symbol: “PANW”), the Class A common stock of Palantir Technologies Inc. (Nasdaq symbol: “PLTR”), the Class A subordinate voting shares of Shopify Inc. (Nasdaq symbol: “SHOP”) and the common stock of Snowflake Inc. (NYSE symbol: “SNOW”) (each, a “Basket Stock”). Each Basket Stock is issued by an “Underlying Company.” |
| Automatic Call |
Automatic call if the Observation Level of the Market Measure on the Observation Date is equal to or greater than the Starting Value |
| Observation Level |
The closing level of the Basket on the Observation Date |
| Observation Date |
Approximately one year after the pricing date |
| Call Amount (per Unit) |
[$11.725 to $11.825] if called on the Observation Date |
| Payout Profile at Maturity |
If not called:
·
200% leveraged upside
exposure to increases in the Basket
·
1-to-1 downside
exposure to decreases in the Basket, with 100.00% of your principal at risk |
| Participation Rate |
200.00% |
| Threshold Value |
100% of the Starting Value |
| Preliminary Offering Documents |
http://www.sec.gov/Archives/edgar/data/312070/000095010326006758/
dp245991_424b2-8804baml.htm |
| Exchange Listing |
No |
You should read the relevant Preliminary Offering Documents before
you invest. Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.
Risk Factors
Please see the Preliminary Offering Documents for a description of
certain risks related to this investment, including, but not limited to, the following:
| · | If the notes are not automatically called, depending on the performance of
the Basket as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed return of principal. |
| · | Your return on the notes may be less than the yield you could earn by owning
a conventional fixed or floating rate debt security of comparable maturity. |
| · | If the notes are called, your investment return is limited to the return represented
by the Call Premium. |
| · | If the notes are automatically called, you will be subject to reinvestment
risk. |
| · | Changes in the price of one Basket Stock may be offset
by changes in the prices of the other Basket Stocks. |
| · | Payments on the notes, including repayment of principal,
are subject to the credit risk of Barclays and to the risk of exercise of any U.K. Bail-in Power or any other resolution measure by the
relevant U.K. resolution authority. If Barclays becomes insolvent, is unable to pay its obligations, or any other resolution measure is
exercised, you may lose your entire investment. |
| · | The initial estimated value of the notes on the pricing
date is expected to be lower than their public offering price. |
| · | If you attempt to sell the notes prior to maturity,
their market value may be lower than both the public offering price and the initial estimated value of the notes on the pricing date. |
| · | A trading market is not expected to develop for the
notes. |
| · | Our business, hedging and trading activities, and
those of MLPF&S, BofAS and our respective affiliates (including trades in the Basket Stocks), and any hedging and trading activities
we, MLPF&S, BofAS or our respective affiliates engage in for our clients’ accounts, may affect the market value and return of
the notes and may create conflicts of interest with you. |
| · | There may be potential conflicts of interest involving
the calculation agents, which are Barclays and BofAS. |
| · | The Underlying Companies will have no obligations
relating to the notes, and none of us, MLPF&S or BofAS will perform any due diligence procedures with respect to the Underlying Companies
in connection with this offering. |
| · | You will have no rights of a holder of the Basket
Stocks, and you will not be entitled to receive shares of the Basket Stocks or dividends or other distributions by the Underlying Companies. |
| · | While we, MLPF&S, BofAS or our respective affiliates
may from time to time own securities of the Underlying Companies, we, MLPF&S, BofAS and our respective affiliates do not control any
Underlying Company, and have not verified any disclosure made by any Underlying Company. |
| · | The payment on the notes will not be adjusted for
all corporate events that could affect a Basket Stock. |
| · | The U.S. federal income tax consequences of an investment
in the notes are uncertain. |
| · | The stocks included in the Basket are concentrated
in one sector |
| · | An investment in the notes is subject to risks associated
with investing in stocks in the technology sector. |
| · | An investment in the notes is subject to risks associated
with non-U.S. companies with respect to the Class A subordinate voting shares of Shopify Inc. |
Final terms will be set on the pricing date within the given range
for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including related
risks and tax disclosure.
The graph above and the table below assume
that the notes are not automatically called on the Observation Date and reflect the hypothetical return on the notes at maturity, based
on the terms contained in the table to the left (using the mid-point for any range(s)). The graph and the table have been prepared for
purposes of illustration only and do not take into account any tax consequences from investing in the notes.
| Hypothetical Percentage Change from the Starting Value to the Ending Value |
Hypothetical Redemption Amount per Unit |
Hypothetical Total Rate of Return on the Notes |
| -100.00% |
$0.000 |
-100.00% |
| -50.00% |
$5.000 |
-50.00% |
| -30.00% |
$7.000 |
-30.00% |
| -20.00% |
$8.000 |
-20.00% |
| -10.00% |
$9.000 |
-10.00% |
| -5.00% |
$9.500 |
-5.00% |
| -3.00% |
$9.700 |
-3.00% |
| 0.00%(1) |
$10.000 |
0.00% |
| 2.00% |
$10.40 |
4.00% |
| 3.00% |
$10.60 |
6.00% |
| 5.00% |
$11.00 |
10.00% |
| 10.00% |
$12.00 |
20.00% |
| 20.00% |
$14.00 |
40.00% |
| 30.00% |
$16.00 |
60.00% |
| 50.00% |
$20.00 |
100.00% |
| 100.00% |
$30.00 |
200.00% |
| (1) | This hypothetical percentage change corresponds to the Threshold Value. |
| |
| Barclays Bank PLC (Barclays) has filed a registration statement (which includes a prospectus) with the Securities and Exchange Commission (SEC) for the notes that are described in this Guidebook. Before you invest, you should carefully read the prospectus in that registration statement and other documents that Barclays has filed with the SEC for more complete information about Barclays and any offering described in this Guidebook. You may obtain these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. Barclays's Central Index Key, or CIK, on the SEC website is 312070. Alternatively, Merrill Lynch will arrange to send you the prospectus and other documents relating to any offering described in this document if you so request by calling toll-free 1-800-294-1322. Barclays faces risks that are specific to its business, and we encourage you to carefully consider these risks before making an investment in its securities. |
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