Barclays to price contingent income autocallables linked to Vodafone

By Toni Weeks

San Luis Obispo, Calif., March 28 - Barclays Bank plc plans to price contingent income autocallable securities due April 10, 2017 linked to the American Depositary Shares of Vodafone Group plc, according to an FWP filing with the Securities and Exchange Commission.

If Vodafone ADSs close at or above the downside threshold level, 80% of the initial share price, on any quarterly determination date, the notes will pay a contingent payment of at least $0.27625 per $10 note for that quarter. The exact contingent payment will be set at pricing.

If the closing share price is greater than or equal to the initial share price on any quarterly determination date other than the final date, the notes will be automatically redeemed at par of $10 plus the contingent payment.

If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the contingent payment. Otherwise, the payout will be a number of Vodafone shares equal to $10 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.

Barclays is the agent with Morgan Stanley Wealth Management as dealer.

The notes (Cusip: 06742B188) will price April 4 and settle April 9.

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