Barclays to price contingent income autocallables linked to Prudential

By Susanna Moon

Chicago, June 20 – Barclays Bank plc plans to price contingent income autocallable securities due June 30, 2017 linked to Prudential Financial, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of at least 2.125% if Prudential stock closes at or above the 80% barrier level on the determination date for that quarter. The exact coupon will be set at pricing.

If the shares close at or above the initial price on any quarterly determination date other than the final date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Prudential stock finishes at or above the 80% barrier level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Prudential stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash equivalent.

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

The notes are expected to price on June 27 and settle on July 2.

The Cusip number is 06742W596.

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