Barclays to price contingent income autocallables linked to Citigroup

By Sarah Lizee

Olympia, Wash., April 12 – Barclays Bank plc plans to price contingent income autocallable securities due April 21, 2022 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If Citigroup 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 at least 8.65%. The exact rate will be set at pricing.

The notes will be called at par of $10 plus the contingent coupon if Citigroup 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 18.

The Cusip number is 06747A623.

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