Barclays to sell three-year contingent income autocallables on Alibaba

By Devika Patel

Knoxville, Tenn., Sept. 22 – Barclays Bank plc plans to price contingent income autocallable securities due Oct. 3, 2019 linked to Alibaba Group Holding Ltd. American Depositary Shares, 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 11.4% if the ADS close at or above the downside threshold level, 75% of the initial level, on the review date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par if the ADS close at or above the initial level on any determination date other than the final date.

The payout at maturity will be par unless Alibaba ADS 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 (Cusip: 06745B284) will price Sept. 30 and settle on Oct. 5.

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