Published on 10/22/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.5 million fixed-to-floaters due 2021 linked to Libor
By Sarah Lizee
Olympia, Wash., Oct. 22 – Barclays Bank plc priced $2.5 million of fixed-to-floating notes due Oct. 22, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% initially. Beginning Oct. 22, 2019, interest will be equal to Libor plus a spread of 60 basis points, subject to a minimum interest rate of 3% and a maximum interest rate of 5%. 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: | $2.5 million
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Maturity: | Oct. 22, 2021
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Coupon: | 3% initially; beginning Oct. 22, 2019, equal to Libor plus 60 bps, subject to a floor of 3%, cap of 5%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Oct. 18
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Settlement date: | Oct. 22
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Underwriter: | Barclays
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Fees: | 0.4%
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Cusip: | 06746XV67
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