Barclays to price contingent income autocallables on three funds

By Marisa Wong

Morgantown, W.Va., Nov. 13 – Barclays Bank plc plans to price contingent income autocallable securities due Nov. 20, 2020 linked to the worst performing of the Energy Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 8.35% if each fund closes at or above its 70% downside threshold on the determination date for that quarter.

The notes will be callable at par on any quarterly determination date other than the final date.

The payout at maturity will be par plus the final coupon unless any fund finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the worst performing fund.

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

The notes will price on Nov. 17.

The Cusip number is 06746N881.

© 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.