Barclays plans to price callable CMS curve accrual notes due in 2026

By Toni Weeks

San Diego, July 8 - Barclays Bank plc plans to price callable curve accrual notes due July 22, 2026 linked to the 10-year and the two-year Constant Maturity Swap rates, according to an FWP filing with the Securities and Exchange Commission.

Interest will equal the reference rate multiplied by the proportion of days on which the 10-year CMS rate is greater than the two-year CMS rate. The reference rate will be 5% for the first five years, stepping up to 6.5% on July 22, 2016 and to 9.25% on July 22, 2021.

Interest will be payable semiannually.

The notes are callable at par on any interest payment date after one year.

The payout at maturity is par.

The notes (Cusip: 06738KPB1) are expected to price July 19 and settle July 22.

Barclays Capital Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.