Barclays plans contingent income autocallables on United Continental

By Toni Weeks

San Luis Obispo, Calif., Sept. 11 – Barclays Bank plc plans to price contingent income autocallable securities due Sept. 25, 2017 linked to United Continental Holdings, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If United Continental stock closes at or above the 75% downside threshold level on a quarterly determination date, the notes will pay a contingent payment of at least 4.1375% for that quarter, equivalent to at least 16.55% per year. 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 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 75% downside threshold level, in which case the payout will be a number of United Continental 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 Sept. 19 and settle Sept. 24.

The Cusip number is 06740D814.

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