Barclays plans contingent income autocallables linked to Caterpillar

By Susanna Moon

Chicago, March 23 - Barclays Bank plc plans to price contingent income autocallable securities due March 30, 2015 linked to Caterpillar Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If Caterpillar stock closes at or above the 70% downside threshold level on a quarterly determination date, the contingent payment will be 2.05% to 3.05% of par. The exact payment will be set at pricing.

If the stock closes at or above the initial share price on any of the first 11 quarterly determination dates, the notes will be redeemed at par plus the contingent payment.

If the notes are not called and the stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, the payout will be a number of Caterpillar shares equal to $10.00 divided by the initial share price or, at the issuer's option, the cash equivalent.

Barclays Capital Inc. is the underwriter, and Morgan Stanley Smith Barney LLC is the dealer.

The notes will price on March 27 and settle on March 30.

The Cusip is 06741L211.

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