Barclays plans contingent income autocallable notes tied to SanDisk

By Marisa Wong

Morgantown, W.Va., Aug. 13 – Barclays Bank plc plans to price contingent income autocallable securities due Aug. 24, 2018 linked to SanDisk Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of 2.9125% if the shares close at or above the 70% downside threshold level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any determination date other than the final determination date.

The payout at maturity will be par plus the final coupon unless the shares finish below the 70% downside threshold level, in which case investors will receive a number of SanDisk shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.

Barclays is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price on Aug. 21 and settle on Aug. 26.

The Cusip number is 06743Q713.

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