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Barclays plans contingent income autocallable securities on Facebook
By Tali Rackner
Norfolk, Va., July 21 – Barclays Bank plc plans to price contingent income autocallable securities due Aug. 1, 2019 linked to the class A common stock Facebook, Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon each quarter at an annualized rate of at least 9% if Facebook shares close at or above the downside threshold level, 80% of the initial price, on the determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any determination date other than the final one.
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 be fully exposed to the loss in the stock.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
The notes will price on July 29 and settle on Aug. 3.
The Cusip number is 06740Q294.
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