Line a 9x13-inch baking pan with parchment paper (optional) or lightly grease the pan; set aside.
From the 5 cups mini pretzel twists, measure and crush 3 cups into small crumbs: put pretzels in a large zip-top bag and roll with a rolling pin or pulse in a food processor until you have 3 cups of crumbs. Place the crumbs in a large mixing bowl.
Set aside 24 whole mini pretzel twists for the topping.
Add 2 cups creamy peanut butter, 2 cups powdered (confectioners') sugar, and 1 cup melted butter to the bowl with the pretzel crumbs. Stir or mix until evenly combined and a pressable dough forms.
Press the pretzel–peanut butter mixture evenly into the bottom of the prepared 9x13 pan, smoothing and pressing firmly to compact the layer.
In a microwave-safe bowl combine 1½ cups semi-sweet chocolate chips and the remaining 1/4 cup creamy peanut butter. Microwave in 30-second increments, stirring between increments, until the chocolate and peanut butter are fully melted and smooth.
Immediately spread the melted chocolate evenly over the pretzel base, using an offset spatula or the back of a spoon.
Press the 24 reserved whole pretzels lightly into the chocolate in a 4-across by 6-down grid so each finished bar will have one centered pretzel.
Refrigerate until the chocolate is set, about 30 minutes. Remove the slab from the pan using the parchment (if used) and cut into 24 bars.