Barclays plans contingent income autocallables tied to LyondellBasell

By Susanna Moon

Chicago, May 9 – Barclays Bank plc plans to price contingent income autocallable securities due May 15, 2020 linked to LyondellBasell Industries NV stock, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of at least 10% if the stock closes at or above the downside threshold, 75% of the initial level, on the determination date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above its initial level on any determination date other than the final date.

The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.

Barclays is the agent. Morgan Stanley Wealth Management is handling distribution.

The notes will price on May 12 and settle on May 17.

The Cusip number is 06746J187.

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