Barclays plans contingent income autocallable notes linked to Facebook

By Susanna Moon

Chicago, March 13 – Barclays Bank plc plans to price contingent income autocallable securities due March 23, 2018 linked to the class A common stock of Facebook, Inc., 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 8.55% if the shares close at or above the 75% barrier level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any determination date other than the final date.

The payout at maturity will be par plus the contingent coupon unless the shares finish below the 75% barrier level, in which case investors will receive a number of Facebook shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.

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

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

The Cusip number is 06743P657.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.