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 February 12, 2026
| AUTOCALLABLE STRATEGIC ACCELERATED REDEMPTION SECURITIES® (STARS®) |
| Autocallable Strategic Accelerated Redemption Securities® Linked to the Global X Uranium ETF |
| Issuer |
Barclays Bank PLC (“Barclays”). References on this page to “we,” “us” or “our” mean Barclays. |
| Principal Amount |
$10.00 per unit |
| Term |
Approximately five years, if not called on any of the first four Observation Dates |
| Market Measure |
The Global X Uranium ETF (Bloomberg symbol: “URA”) |
| Automatic Call |
Automatic call if the Observation Level of the Market Measure on any of the Observation Dates is equal to or greater than the Call Level |
| Observation Level |
The Closing Market Price of the Market Measure times the Price Multiplier on the applicable Observation Date |
| Observation Dates |
Approximately one, two, three, four and five years from the pricing date |
| Call Level |
100% of the Starting Value |
| Call Amounts |
In the event of an automatic call, the amount payable per unit will
be:
·
[$11.00 to $11.10] if called on the first Observation Date
·
[$12.00 to $12.20] if called on the second Observation Date
·
[$13.00 to $13.30] if called on the third Observation Date
·
[$14.00 to $14.40] if called on the fourth Observation Date
·
[$15.00 to $15.50] if called on the final Observation Date
|
| Payout Profile at Maturity |
If not called, 1-to-1 downside exposure to decreases in the Market Measure beyond a 15% decline, with 85% of your principal at risk |
| Threshold Value |
85% of the Starting Value |
| Preliminary Offering Documents |
http://www.sec.gov/Archives/edgar/data/312070/000095010326002040/dp241208_424b2-8344baml.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, 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. |
| · | Your investment return is limited to the return represented by the Call Premiums
and may be less than a comparable investment directly in shares of the Market Measure or the securities held by 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 shares of the Market Measure or the securities held by 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 sponsor and advisor of the Market Measure may adjust the Market Measure
in a way that could adversely affect the value of the notes and the amount payable on the notes, and these entities have no obligation
to consider your interests. |
| · | You will have no rights of a holder of shares of the Market Measure or the
securities held by the Market Measure, and you will not be entitled to receive securities or dividends or other distributions by the issuers
of those securities. |
| · | While we, MLPF&S, BofAS or our respective affiliates may from time to
time own shares of the Market Measure or the securities held by the Market Measure, we, MLPF&S, BofAS and our respective affiliates
do not control the Market Measure or the issuers of those securities, and have not verified any disclosure made by any other company. |
| · | There are liquidity and management risks associated with the Market Measure. |
| · | The performance of the Market Measure may not correlate with the performance
of the securities held by the Market Measure as well as the net asset value per share of the Market Measure, especially during periods
of market volatility when the liquidity and the market price of shares of the Market Measure and/or the securities held by the Market
Measure may be adversely affected, sometimes materially. |
| · | The payments on the notes 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. |
| · | The securities held by the Market Measure are concentrated in one sector. |
| · | An investment in the notes is subject to risks associated with the uranium
industry. |
| · | A limited number of stocks held by the Market Measure may affect its price,
and the stocks held by the Market Measure are not necessarily representative of the uranium industry. |
| · | An investment in the notes is subject to risks associated with non-U.S. companies. |
| · | An investment in the notes is subject to risks relating to emerging markets. |
| · | The notes are subject to foreign currency exchange rate risk. |
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.
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