Barclays plans contingent interest autocallables on DISH Network

By Devika Patel

Knoxville, Tenn., July 3 – Barclays Bank plc plans to price autocallable contingent interest notes due July 22, 2020 linked to DISH Network Corp. class A common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 14% if the stock closes at or above the coupon barrier level, 65% of the initial level, on the review date for that quarter.

The notes will be called at par plus the contingent coupon beginning Oct. 17, 2019 if DISH shares close at or above the initial share price on any review date other than the final one.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is lower than the 65% buffer level, in which case investors will lose 1.53846% for each 1% decline beyond the buffer.

Barclays and J.P. Morgan Securities LLC are the agents.

The notes (Cusip: 06747N5N0) will price on July 5 and settle on July 10.

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