Barclays plans 8.35% contingent income autocallables tied to indexes

By Susanna Moon

Knoxville, Tenn., Oct. 18 – Barclays Bank plc plans to price contingent income autocallable securities due April 23, 2020 linked to the worse performing of the Nikkei 225 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 8.35% if each index closes at or above its 70% coupon barrier on the determination date for that quarter.

The notes will be callable at par on any quarterly determination date after six months other than the final date.

The payout at maturity will be par plus the final coupon unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.

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

The notes will price on Oct. 20 and settle on Oct. 25.

The Cusip number is 06744CE72.

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