Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.35 million step-up fixed-rate callable notes with 5.5% start rate
By William Gullotti
Buffalo, N.Y., July 31 – Barclays Bank plc priced $2.35 million of step-up fixed-rate callable notes due July 27, 2038, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 5.5% initially, stepping up to 6% on July 27, 2028 and to 6.5% on July 27, 2033. Interest will be payable semiannually.
The notes will be callable at par on any quarterly call date beginning July 27, 2026.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Step-up fixed-rate callable notes
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Amount: | $2,346,000
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Maturity: | July 27, 2038
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Coupon: | 5.5% initially, stepping up to 6% on July 27, 2028 and to 6.5% on July 27, 2033; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any quarterly call date beginning July 27, 2026
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Pricing date: | July 24
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Settlement date: | July 27
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Underwriters: | Barclays
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Fees: | 2%
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Cusip: | 06745MQQ4
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