Published on 6/13/2019 in the Prospect News Investment Grade Daily and Prospect News Structured Products Daily.
New Issue: Barclays prices $263 million floored fixed-to-floaters due 2020
By Angela McDaniels
Tacoma, Wash., June 13 – Barclays Bank plc priced $263 million of floored fixed-to-floating notes due Dec. 14, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The initial interest rate is 2.65%. Beginning June 14, 2020, the interest rate will be Libor plus 30 basis points, subject to a minimum interest rate of 1.75% per year. Interest is payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Floored fixed-to-floating notes
|
| Amount: | $263 million
|
| Maturity: | Dec. 14, 2020
|
| Coupon: | 2.65% initially; beginning June 14, 2020, Libor plus 30 bps, subject to minimum interest rate of 1.75% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 11
|
| Settlement date: | June 14
|
| Underwriter: | Barclays
|
| Fees: | 0.02%
|
| Cusip: | 06747MZL3
|
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