Barclays to price contingent income autocallables linked to Chipotle

By Tali Rackner

Minneapolis, May 16 – Barclays Bank plc plans to price contingent income autocallable securities due May 22, 2020 linked to the common stock of Chipotle Mexican Grill, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment at an annualized rate of at least 9.5% if the shares close at or above the 85% downside threshold level on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above the initial price on any quarterly determination date other than the final date.

The payout at maturity will be par plus the final coupon unless the shares finish below the 85% threshold level, in which case investors will lose 1% for every 1% decline of the stock from its initial level.

Barclays is the agent and Morgan Stanley Wealth Management is a dealer.

The notes will price on May 19 and settle on May 24.

The Cusip number is 06746K861.

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