Barclays plans contingent income autocallables linked to salesforce.com

By Tali Rackner

Norfolk, Va., Nov. 2 – Barclays Bank plc plans to price contingent income autocallable securities due Nov. 9, 2018 linked to the common stock of salesforce.com, inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 10.3% if GM shares close at or above the 75% downside threshold level on the determination date for that quarter. The exact coupon will be set at pricing.

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

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that GM’s final share price is less than its initial share price.

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

The notes will price on Nov. 6 and settle on Nov. 12.

The Cusip number is 06740Q203.

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