Barclays plans contingent income autocallables due 2020 on Walgreens

By Wendy Van Sickle

Columbus, Ohio, April 24 – Barclays Bank plc plans to price contingent income autocallable securities due May 1, 2020 linked to Walgreens Boots Alliance, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of at least 8.25% if the stock closes at or above the downside threshold level, 80% of the initial share price, on the determination date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the redemption threshold on any determination date. The redemption threshold will be 105% of the initial level on the first four determination dates, 110% of the initial level on the next four determination dates and 115% on final three determination dates.

The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.

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

The notes will price on April 28 and settle on May 3.

The Cusip number is 06746J518.

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