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Barclays to price floored fixed-to-floaters due 2017 linked to Libor
By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Barclays Bank plc plans to price floored fixed- to floating-rate notes due Oct. 30, 2017 linked to three-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 1% initially. Beginning on Oct. 30, 2016, the interest rate will be equal to Libor plus 30 basis points, subject to a minimum rate of 50 bps. Interest will be payable quarterly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
The notes will price on Oct. 27 and will settle on Oct. 30.
The Cusip number is 06741UQ31.
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