Free Writing Prospectus
Filed pursuant to Rule 433
Registration Statement No. 333-287303
Dated June 10, 2026
| STEP Income Securities (STEPS®) |
|
| STEP Income
Securities® Linked to the Common Stock of ServiceNow, Inc. |
| Issuer |
Barclays
Bank PLC (“Barclays”). References on this page to “we,” “us” or “our” mean Barclays. |
| Principal
Amount |
$10.00
per unit |
| Term |
Approximately
one year and one week |
| Market
Measure |
The
Class B common stock of NIKE, Inc. (the “Underlying Company”) (NYSE symbol: “NKE”) |
| Interest |
16.00% per year, payable
quarterly |
| Payout
Profile at Maturity |
· If
the Ending Value is greater than or equal to 116.00% of the Starting Value, a payment of [$0.10 to $0.50] per unit
· 1-to-1
downside exposure to decreases in the Market Measure, with 100% of your principal at risk |
| Step
Level |
116.00%
of the Starting Value |
| Step
Payment |
[$0.10
to $0.50] per unit, a return of [1.00% to 5.00%] over the principal amount, to be determined on the pricing date |
| Threshold
Value |
100%
of the Starting Value |
| Preliminary
Offering Documents |
http://www.sec.gov/Archives/edgar/data/312070/000095010326008752/dp248080_424b2-9033baml.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:
| · | Depending
on the performance of the Market Measure 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. |
| · | You
will not receive a Step Payment at maturity unless the Ending Value is greater than or equal
to the Step Level. |
| · | Your
investment return is limited to the return represented by the periodic interest payments
over the term of the notes and the Step Payment, if any, and may be less than a comparable
investment directly in the Market Measure. |
| · | 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 Market Measure), 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 Company 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 Company
in connection with this offering. |
| · | You
will have no rights of a holder of the Market Measure, and you will not be entitled to receive
shares of the Market Measure or dividends or other distributions by the Underlying Company. |
| · | While
we, MLPF&S, BofAS or our respective affiliates may from time to time own securities of
the Underlying Company, we, MLPF&S, BofAS and our respective affiliates do not control
the Underlying Company, and have not verified any disclosure made by the Underlying Company. |
| · | The
Redemption Amount will not be adjusted for all corporate events that could affect the Market
Measure. |
| · | The
U.S. federal income tax consequences of an investment in the notes are uncertain. |
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.
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.