By Marisa Wong
Los Angeles, April 8 – Barclays Bank plc priced $65 million of fixed-to-floating-rate notes due Oct. 5, 2026 linked to compounded SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
For the first six months, the interest rate will be fixed at 5.85% per annum, payable quarterly.
After that, interest will be determined and paid quarterly. The interest rate will be based on daily compounded SOFR plus an 80 basis points spread, with a 0.8% floor.
The payout at maturity will be par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying rate: | SOFR
|
| Amount: | $65 million
|
| Maturity: | Oct. 5, 2026
|
| Coupon: | 5.85% for first six months; after that, daily compounded SOFR plus 80 bps with 0.8% floor; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | April 3
|
| Settlement date: | April 5
|
| Agent: | Barclays
|
| Fees: | 0.2%
|
| Cusip: | 06745QJJ9
|
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