Barclays to price contingent income autocallables linked to Chevron

By Angela McDaniels

Tacoma, Wash., April 4 – Barclays Bank plc plans to price contingent income autocallable securities due April 18, 2022 linked to the common stock of Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If Chevron shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of at least 8.4%. The exact rate will be set at pricing.

The notes will be called at par of $10 plus the contingent coupon if Chevron shares close at or above the initial share price on any quarterly determination date other than the final determination 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 the final share price is less than the initial share price.

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

The notes are expected to price April 12.

The Cusip number is 06747A771.

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