Barclays will price contingent income autocallables on Russell, S&P

By Devika Patel

Knoxville, Tenn., Jan. 12 – Barclays Bank plc plans to price contingent income autocallable securities due Feb. 5, 2019 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent payment of at least $21.125 per $1,000 principal amount if each index closes at or above its downside threshold level, 80% of its initial index level, on the determination date for that quarter.

Beginning April 28, 2017, Barclays may call the notes at par of $1,000 plus any contingent coupon on any quarterly determination date other than the final one if the closing level of each index is greater than or equal to its initial level.

If each index finishes at or above its downside threshold level, 80% of its initial index level, the payout at maturity will be par plus the final contingent coupon.

Otherwise, investors will lose 1% for each 1% decline of the worst performing index.

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

The notes (Cusip: 06741VHB1) will price on Jan. 31 and settle on Feb. 3.

© 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.