By Susanna Moon
Chicago, Oct. 27 - Barclays Bank plc priced another $2.07 million of callable range accrual notes due Oct. 29, 2025 based on six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $4.62 million, up from $2.55 million.
The coupon will accrue at a rate for each day that six-month Libor is at or below 6.5% and the S&P 500 closes at or above 825. The rate is 6.25% for the first five years, 7.25% beginning Oct. 29, 2015 and 8.25% thereafter. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning on Oct. 29, 2014.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Amount: | $4,615,000, up from $2,545,000
|
| Maturity: | Oct. 29, 2025
|
| Coupon: | Accrues at a rate for each day that six-month Libor is at or below 6.5% and S&P 500 closes at or above 825; rate is 6.25% for the first five years, 7.25% for next five years and 8.25% thereafter; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after four years
|
| Pricing dates: | Oct. 7 for $2,545,000; Oct. 27 for $2.07 million
|
| Settlement date: | Oct. 29
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06740P2K1
|
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