Barclays plans 9% contingent income autocallables tied to Alibaba

By Susanna Moon

Chicago, Jan. 11 – Barclays Bank plc plans to price autocallable contingent income securities due Jan. 15, 2021 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 9% if the stock closes at or above the 75% downside threshold on the review date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its 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 with Morgan Stanley Wealth Management as dealer.

The notes will price on Jan. 12 and settle on Jan. 18.

The Cusip number is 06746P647.

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