By Marisa Wong
Madison, Wis., March 18 - Barclays Bank plc priced $3 million of fixed-rate callable range accrual notes due to April 8, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will accrue at 8.25% for each day that six-month Libor is at or below 6.5% and the S&P 500 index closes at or above 900, up to a maximum rate of 8.25%. Interest is 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 April 8, 2012.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed-rate callable range accrual notes
|
| Amount: | $3 million
|
| Maturity: | April 8, 2026
|
| Coupon: | 8.25% for each day that six-month Libor is at or below 6.5% and index closes at or above 900, capped at 8.25% with floor of 0%; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Pricing date: | March 17
|
| Settlement date: | April 8
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06738KFF3
|
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