Barclays plans contingent income autocallables linked to Michael Kors

By Toni Weeks

San Luis Obispo, Calif., Feb. 6 - Barclays Bank plc plans to price contingent income autocallable securities due Feb. 17, 2015 linked to shares of Michael Kors Holdings Ltd., according to an FWP filing with the Securities and Exchange Commission.

If Michael Kors stock closes at or above the 75% barrier level on a quarterly determination date, the notes will pay a contingent payment of at least 2.6875% 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 quarterly determination date other than the final one, 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 Michael Kors 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 Wealth Management.

The notes will price Feb. 10 and settle Feb. 13.

The Cusip number is 06742B576.

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