By Jennifer Chiou
New York, Jan. 29 - Barclays Bank plc priced $25 million of callable range accrual notes due Jan. 30, 2029 linked to six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 6% per year multiplied by the proportion of days on which six-month Libor is 5% or less for the first six years. After that, the rate will be 10% per year multiplied by the proportion of days on which six-month Libor is 5% or less.
The payout at maturity will be par.
Beginning on April 30, 2014, the notes are callable at par on any interest payment date.
Barclays is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Amount: | $25 million
|
| Maturity: | Jan. 30, 2029
|
| Coupon: | 6% per year multiplied by proportion of days on which six-month Libor is 5% or less for years one through six, then 10% per year multiplied by the proportion of days on which six-month Libor is 5% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from April 30, 2014 onward
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 30
|
| Agents: | Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06741T4J3
|
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