Barclays plans contingent income autocallables linked to United Rentals

By Susanna Moon

Chicago, March 6 – Barclays Bank plc plans to price contingent income autocallable securities due March 17, 2016 linked to United Rentals, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment of at least 2.6375% if the shares close at or above the 75% barrier level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any determination date other than the final date.

The payout at maturity will be par plus the final coupon unless the shares finish below the 75% barrier level, in which case investors will receive a number of United Rentals shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.

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

The notes will price on March 13 and settle on March 18.

The Cusip number is 06743P699.

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