New Issue: Barclays prices $7 million fixed-to-floating rate notes on SOFR

By William Gullotti

Buffalo, N.Y., Sept. 26 – 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
Issue:	Fixed-to-floating rate notes
Amount:	$7 million
Maturity:	Sept. 2, 2025
Coupon:	4.25% until Sept. 2, 2023; after that, SOFR plus 130 bps with a 0% floor; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Aug. 26
Settlement date:	Sept. 2
Agent:	Barclays
Fees:	0.6%
Cusip:	06748XQP9

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