Barclays to price contingent income autocallables linked to stocks

By Sarah Lizee

Olympia, Wash., Jan. 17 – Barclays Bank plc plans to price contingent income autocallable securities due July 28, 2022 linked to the worse performing of the common stocks of Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.

If the worse performing shares close at or above the downside threshold level, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 9.75%.

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

If the final share price of the worse performing stock 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 of the worse performing stock is less than the initial share price.

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

The notes will price on Jan. 24.

The Cusip number is 06747F747.

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