Barclays plans to price contingent income autocalls on Kroger

By Sarah Lizee

Olympia, Wash., May 1 – Barclays Bank plc plans to price contingent income autocallable securities due May 11, 2023 linked to the common shares of Kroger Co., according to a 424B2 filing with the Securities and Exchange Commission.

If the shares close at or above the downside threshold level, 75% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 11.75%.

After six months, the notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date other than the final determination date.

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 lose 1% for every 1% that the final share price is less than the initial share price.

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

The notes will price on May 8.

The Cusip number is 06747H206.

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