Barclays to price capped callable CMS steepener notes due 2033

By Marisa Wong

Madison, Wis., July 25 - Barclays Bank plc plans to price capped callable steepener notes due Aug. 15, 2033 linked to the 10-year Constant Maturity Swap rate and the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be at least 10% for the first year. Beginning Aug. 15, 2014, it will be 4 times the spread of the 10-year CMS rate over the two-year CMS rate minus 25 basis points, up to a maximum rate of at least 10% per year. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning Aug. 15, 2014.

The exact terms will be set at pricing.

Barclays is the agent.

The notes will settle on Aug. 15.

The Cusip number is 06741TZW0.

© 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.