Barclays plans contingent income autocallable notes linked to AIG

By Marisa Wong

Madison, Wis., Nov. 19 - Barclays Bank plc plans to price contingent income autocallable securities due Nov. 30, 2016 linked to American International Group, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If AIG stock closes at or above the 80% downside threshold level on a quarterly determination date, the notes will pay a contingent payment of 2% for that quarter.

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 80% barrier level, in which case the payout will be a number of AIG 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 Nov. 26 and settle on Dec. 2.

The Cusip number is 06742E521.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.