Barclays to price contingent income autocallables tied to Celgene

By Jennifer Chiou

New York, March 27 – Barclays Bank plc plans to price contingent income autocallable securities due April 5, 2018 linked to Celgene Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment of at least 2.2625% if the shares close at or above the 75% downside threshold 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% downside threshold level, in which case investors will receive a number of Celgene shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.

The notes (Cusip: 06740D194) will price on April 2 and settle on April 8.

Barclays is the agent with Morgan Stanley Wealth Management as distributor.

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