Published on 6/2/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million step-up fixed-rate callable notes with 5.05% start rate
Chicago, June 2 – Barclays Bank plc priced $2 million of step-up fixed-rate callable notes due June 2, 2043, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 5.05% initially, stepping up to 5.25% on June 2, 2028, to 6% starting on June 2, 2033 and to 7% on June 2, 2038. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly after three years.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Step-up fixed-rate callable notes
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Amount: | $2,000,000
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Maturity: | June 2, 2043
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Coupon: | 5.05% initially, stepping up to 5.25% on June 2, 2028, to 6% starting on June 2, 2033 and to 7% on June 2, 2038; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par quarterly after three years
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Pricing date: | May 30
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Settlement date: | June 2
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Underwriters: | Barclays
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Fees: | 2%
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Cusip: | 06745MDY1
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