Barclays plans contingent income autocallables on Bank of America

By Tali Rackner

Norfolk, Va., Oct. 28 – Barclays Bank plc plans to price contingent income autocallable securities due Nov. 7, 2019 linked to the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 9.4% if the stock closes at or above its downside threshold level, 80% of the initial level, on the determination date for that quarter. The exact coupon will be set at pricing.

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

The payout at maturity will be par unless Bank of America shares finish below the 80% downside threshold level, in which case investors will lose 1% for each 1% decline.

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

The notes will price on Nov. 4 and settle on Nov. 9.

The Cusip number is 06744M737.

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