Barclays plans contingent income autocallable notes linked to Alibaba

By Susanna Moon

Chicago, July 31 – Barclays Bank plc plans to price contingent income autocallable securities due Aug. 10, 2018 linked to the American Depositary Shares of Alibaba Group Holding Ltd., 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 10.65% if Alibaba stock closes at or above the 80% barrier level on the determination date for that quarter. The exact coupon will be set at pricing.

If the shares close at or above the initial value on any determination date other than the final date, the notes will be called at par plus the contingent coupon.

If Alibaba stock finishes at or above the 80% barrier level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Alibaba stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash equivalent.

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

The notes will price on Aug. 7 and settle on Aug. 12.

The Cusip number is 06743Q762.

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