Barclays plans contingent income autocallables on Hewlett-Packard

By Jennifer Chiou

New York, March 4 – Barclays Bank plc plans to price contingent income autocallable securities due March 10, 2016 linked to Hewlett-Packard Co. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment of at least 2.1125% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any determination date other than the final date.

The payout at maturity will be par plus the final coupon unless the shares finish below the 80% downside threshold level, in which case investors will receive a number of Hewlett-Packard shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.

The notes (Cusip: 06743P715) are expected to price on March 6 and settle on March 11.

Barclays is the agent with Morgan Stanley Wealth Management as dealer.

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