By Jennifer Chiou
New York, March 9 - Barclays Bank plc priced $2 million of fixed-rate callable range accrual notes due March 30, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 8.25% per year multiplied by the proportion of days on which six-month Libor is 6.5% or less and the S&P 500 index closes at or above 950. Interest is payable quarterly.
The payout at maturity will be par.
Beginning March 30, 2012, the notes will be callable at par on any interest payment date.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed-rate callable range accrual notes
|
| Amount: | $2 million
|
| Maturity: | March 30, 2026
|
| Coupon: | 8.25% per year multiplied by proportion of days on which six-month Libor is 6.5% or less and S&P 500 index closes at or above 950; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Pricing date: | March 8
|
| Settlement date: | March 30
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06738KEF4
|
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