Barclays plans contingent income autocallable notes linked to Alcoa

By Susanna Moon

Chicago, Oct. 11 - Barclays Bank plc plans to price contingent income autocallable securities due Oct. 24, 2016 linked to shares of Alcoa Inc., according to an FWP filing with the Securities and Exchange Commission.

If Alcoa stock closes at or above the 75% barrier level on a quarterly determination date, the notes will pay a contingent payment of 2% for that quarter. The exact contingent quarterly coupon 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 of $10 plus the contingent payment.

If the notes are not called, the payout at maturity will be par plus the contingent payment unless the stock finishes below the 75% downside threshold level, in which case the payout will be a number of Alcoa shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

Barclays is the agent with distribution through Morgan Stanley Smith Barney LLC.

The notes will price on Oct. 18 and settle on Oct. 23.

The Cusip number is 06742E786.

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