Barclays to price contingent income autocallables linked to Honeywell

By Marisa Wong

Madison, Wis., Oct. 23 - Barclays Bank plc plans to price contingent income autocallable securities due Nov. 2, 2015 linked to the common stock of Honeywell International Inc., according to an FWP filing with the Securities and Exchange Commission.

If Honeywell stock closes at or above the downside threshold level - 80% of the initial share price - on a quarterly determination date, investors will receive a contingent payment of $0.1875 to $0.2375 for each $10.00 note. Otherwise, no contingent payment will be made for that period. The exact contingent payment will be set at pricing.

If the closing share price is greater than or equal to the initial share price on any of the first 11 quarterly determination dates, the notes will be automatically redeemed at par plus the contingent payment.

If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the contingent payment. If the final share price is less than the downside threshold level, the payout will be a number of Honeywell shares equal to $10.00 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.

The notes (Cusip: 06742A578) are expected to price on Oct. 30 and settle on Nov. 2.

Barclays is the agent. Distribution will be through Morgan Stanley Smith Barney LLC.

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