Barclays plans contingent income autocallables linked to Abercrombie

By Jennifer Chiou

New York, Feb. 26 - Barclays Bank plc plans to price contingent income autocallable securities due March 5, 2015 linked to Abercrombie & Fitch Co. shares, according to an FWP with the Securities and Exchange Commission.

If Abercrombie stock closes at or above the 70% barrier level on a quarterly determination date, the notes will pay a contingent payment of at least 2.875% 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 review date other than the final review date, 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 70% downside threshold level, in which case the payout will be a number of Abercrombie shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

The notes (Cusip: 06742K832) are expected to price on Feb. 28 and settle on March 5.

Barclays is the agent with distribution through Morgan Stanley Wealth Management.

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