Barclays plans contingent income autocallables linked to three indexes

By Tali Rackner

Norfolk, Va., Nov. 16 – Barclays Bank plc plans to price contingent income autocallable securities due Nov. 25, 2022 linked to the worse performing of the S&P 500 index, the Euro Stoxx 50 index and the Nikkei 225 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent quarterly payment if each index closes at or above its coupon barrier level, 70% of its initial index level, on the determination date for that quarter. The contingent coupon rate is expected to be at least 9.2% annually and will be set at pricing.

After one year, Barclays may call the notes at par of $1,000 plus any contingent coupon on any quarterly determination date other than the final one.

If each index finishes at or above its downside threshold level, 60% of its initial index level, the payout at maturity will be par. If each index finishes at or above the 70% coupon barrier level, investors will also receive the final contingent coupon.

Otherwise, investors will be fully exposed to the decline of the worst performing index.

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

The notes will price on Nov. 20 and settle on Nov. 25.

The Cusip number is 06743T600.

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