Barclays plans contingent income autocallable notes tied to Ford Motor

By Susanna Moon

Chicago, May 3 - Barclays Bank plc plans to price contingent income autocallable securities due May 20, 2016 linked to Ford Motor Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent payment of 2.375% to 3.125% for each quarter that Ford stock closes above the 75% barrier level on a quarterly determination date. The exact percentage will be set at pricing.

If the stock closes at or above the initial share price on any of the first 11 quarterly determination dates, the notes will be redeemed at par plus the contingent payment.

The payout at maturity will be par plus the contingent payment unless the stock finishes below the 75% downside threshold level, in which case the payout will be a number of Ford shares equal to par divided by the initial share price or, at Barclays' option, the cash equivalent.

Barclays is the agent with Morgan Stanley Smith Barney LLC as dealer.

The notes will price on May 17 and settle on May 22.

The Cusip number is 06742C228.

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