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Barclays plans three-year contingent income autocallables tied to Apple
By Susanna Moon
Chicago, Sept. 7 – Barclays Bank plc plans to price contingent income autocallable securities due Sept. 12, 2019 linked to Apple Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.35% if the stock closes at or above its downside threshold level, 80% of its initial level, on the review date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the shares finish below the 80% downside threshold level, in which case investors will be fully exposed to any losses.
Barclays is the agent with Morgan Stanley Wealth Management as dealer.
The notes will price on Sept. 9 and settle on Sept. 14.
The Cusip number is 06745B474.
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