Barclays plans contingent income autocallables linked to Blackstone

By Marisa Wong

Morgantown, W.Va., Oct. 8 – Barclays Bank plc plans to price contingent income autocallable securities due Oct. 17, 2016 linked to the common units of Blackstone Group LP, according to an FWP filing with the Securities and Exchange Commission.

If Blackstone units close at or above the downside threshold level, 80% of the initial unit price, on a quarterly determination date, the notes will pay a contingent payment that quarter of at least 4.5375%. The exact rate will be set at pricing.

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

If the final interest 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 price is less than the initial price.

Barclays is the agent. Morgan Stanley Wealth Management is handling distribution.

The notes are expected to price on Oct. 9 and settle on Oct. 15.

The Cusip number is 06743Q374.

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