Barclays plans contingent income autocallables due 2020 on BofA

By Wendy Van Sickle

Columbus, Ohio, March 27 – Barclays Bank plc plans to price contingent income autocallable securities due April 3, 2020 linked to Bank of America Corp. stock, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of at least 9.3% if the stock closes at or above the downside threshold level, 75% of the initial share price, on the determination date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above their initial level on any determination date other than the final date.

The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.

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

The notes will price on March 31 and settle on April 5.

The Cusip number is 06746J401.

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