By Laura Lutz
Des Moines, June 26 - Barclays Bank plc priced a $3.055 million issue of callable range accrual notes due June 27, 2022 linked to six-month Libor, according to a 424B3 filing with the Securities and Exchange Commission.
For each three-month interest period, interest will accrue at 9% per annum for each day six-month Libor is above 0% and below 7%.
The notes are callable at par plus accrued interest on any interest payment date beginning June 27, 2008.
If the notes are not called, the payout at maturity will be par plus accrued interest, if any.
Barclays Capital is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable range accrual notes
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Amount: | $3.055 million
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Maturity: | June 27, 2022
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Coupon: | 9% times the proportion of days that six-month Libor is above 0% and below 7%; payable quarterly
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Price: | Par
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Payout at maturity: | Par plus accrued interest
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Call: | At par plus accrued interest on any interest payment date beginning June 27, 2008
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Pricing date: | June 15
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Settlement date: | June 27
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Agent: | Barclays Capital
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Fees: | 2.04%
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