Barclays plans contingent income autocallables tied to Las Vegas Sands

By Devika Patel

Knoxville, Tenn., May 6 – Barclays Bank plc plans to price contingent income autocallable securities due May 16, 2019 linked to Las Vegas Sands Corp. common shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment at an annualized rate of at least 13.7% if the shares close at or above the 65% threshold level on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par of $10 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 65% threshold level, in which case investors will lose 1% for every 1% decline.

Barclays is the agent, and Morgan Stanley Wealth Management is a dealer.

The notes (Cusip: 06744K442) will price on May 13 and settle on May 18.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.