Published on 8/31/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7 million fixed-to-floating rate notes on SOFR
Chicago, Aug. 31 – Barclays Bank plc priced $7 million of fixed-to-floating rate notes due Sept. 2, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4.25% until Sept. 2, 2023. After that, it will be SOFR plus a 130 basis points spread, subject to a 0% floor. Interest is payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Fixed-to-floating rate notes
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Amount: | $7,000,000
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Maturity: | Sept. 2, 2025
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Coupon: | 4.25% until Sept. 2, 2023; after that, SOFR plus 130 bps with a 0% floor; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Aug. 26
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Settlement date: | Sept. 2
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Agent: | Barclays
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Fees: | 0.6%
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Cusip: | 06748XQP9
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