Published on 6/11/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5 million fixed-to-floaters linked to 10-year CMS rate
By Susanna Moon
Chicago, June 11 – Barclays Bank plc priced $5 million of fixed-to-floating notes due June 12, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first two years. After that, it will be 0.9 times the 10-year Constant Maturity Swap rate. Interest will be payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Fixed-to-floating notes
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Amount: | $5 million
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Maturity: | June 12, 2025
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Coupon: | 3% initially; beginning June 12, 2017, 0.9 times the 10-year CMS rate; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | June 9
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Settlement date: | June 12
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06741UXB5
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