Barclays to price contingent income autocallables linked to three ETFs

By Angela McDaniels

Tacoma, Wash., Dec. 1 – Barclays Bank plc plans to price contingent income autocallable securities due Dec. 13, 2022 linked to the worst performing of the Financial Select Sector SPDR fund, the Industrial 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 if each fund closes at or above its downside threshold level, 70% of its initial share price, on the determination date for that quarter. The contingent coupon rate is expected to be at least 7% and will be set at pricing.

Beginning Dec. 10, 2018, the notes will be automatically called at par if each fund closes at or above its initial share price on any quarterly determination date.

The payout at maturity will be par unless the final share price of any ETF is less than its downside threshold level, in which case investors will be fully exposed to the decline of the worst-performing ETF.

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

The notes will price Dec. 8.

The Cusip number is 06746N410.

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