Barclays plans contingent income autocallable securities on BofA

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – Barclays Bank plc plans to price contingent income autocallable securities due Dec. 29, 2017 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 coupon each quarter at an annualized rate of at least 11.5% if the shares close at or above the downside threshold level, 75% of the initial price, 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 the initial price on any determination date other than the final one.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the loss in the stock.

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

The notes will price on Dec. 23 and settle on Dec. 29.

The Cusip number is 06745R453.

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