Barclays plans 6.35% contingent income autocalls tied to three indexes

By Susanna Moon

Chicago, Oct. 15 – Barclays Bank plc plans to price contingent income autocallable securities due Oct. 23, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.35% if each index closes at or above its 65% coupon barrier on the determination date for that quarter.

The notes will be called at par on any determination date after six months.

The payout at maturity will be par unless any index finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.

Barclays Securities (USA) LLC is the underwriter with Morgan Stanley Wealth Management as the dealer.

The notes will price on Oct. 18.

The Cusip number is 06746XRZ8.

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