By Angela McDaniels
Tacoma, Wash., Jan. 2 - Barclays Bank plc priced $4 million of callable range accrual notes due Jan. 4, 2028 linked to the S&P 500 index and six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.5% per year multiplied by the proportion of days on which the index closes at or above 1,075 and six-month Libor is 6% or less. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Jan. 4, 2016, the notes will be callable at par on any interest payment date.
Barclays is the underwriter. Morgan Stanley Smith Barney LLC is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Underlyings: | S&P 500 index and six-month Libor
|
| Amount: | $4 million
|
| Maturity: | Jan. 4, 2028
|
| Coupon: | 5.5% per year multiplied by proportion of days on which index closes at or above 1,075 and six-month Libor is 6% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Jan. 4, 2016 onward
|
| Initial index level: | 1,402.43
|
| Pricing date: | Dec. 28
|
| Settlement date: | Jan. 4
|
| Underwriter: | Barclays with dealers including Morgan Stanley Smith Barney LLC
|
| Fees: | 2%
|
| Cusip: | 06741TLZ8 |
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
