Barclays eyes three-year contingent income autocallables on Citigroup

By Devika Patel

Knoxville, Tenn., Nov. 21 – Barclays Bank plc plans to price contingent income autocallable securities due Nov. 29, 2019 linked to Citigroup Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 9.55% if the stock closes at or above its downside threshold level, 75% of its initial level, on the review date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par 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 Citigroup shares finish below the 75% downside threshold level, in which case investors will lose 1% for each 1% decline.

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

The notes (Cusip: 06745R669) will price Nov. 25 and settle on Nov. 30.

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