Barclays plans 9.4% contingent income autocalls tied to Kraft Heinz

By Susanna Moon

Chicago, July 25 – Barclays Bank plc plans to price contingent income autocallable securities due July 30, 2021 linked to Kraft Heinz Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.4% if the underlying stock closes at or above the 80% downside threshold on the determination date for that quarter.

The notes will be called at par 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 80% downside threshold, in which case investors will lose 1% for each 1% decline.

Barclays is the agent.

The notes are expected to price on July 27.

The Cusip number is 06746T326.

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