Barclays to price contingent income autocallables tied to Facebook

By Toni Weeks

San Luis Obispo, Calif., July 9 – Barclays Bank plc plans to price contingent income autocallable securities due July 20, 2018 linked to Facebook, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of at least 2.0625% if Facebook stock closes at or above the 80% downside threshold level on the determination date for that quarter. The exact coupon will be set at pricing.

If the shares close at or above the initial price on any quarterly determination date other than the final date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Facebook stock finishes at or above the 80% downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Facebook stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash equivalent.

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

The notes are expected to price July 17 and settle July 22.

The Cusip number is 06743N363.

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