New Issue: Barclays upsizes leveraged callable CMS spread notes to $4.84 million

By Angela McDaniels

Tacoma, Wash., April 7 - Barclays Bank plc priced an additional $4.09 million of 100% principal-protected leveraged callable CMS spread notes due April 9, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

When added to the $750,000 of notes that priced March 23, the latest notes bring the issue size to $4.84 million.

Interest is fixed at 12% for the first year. Beginning April 9, 2010, interest will equal 7.5 times the spread of the 10-year Constant Maturity Swap rate over the two-year CMS rate, subject to a maximum of 15% per year and a floor of zero. Interest is payable semiannually.

The payout at maturity will be par.

The notes are callable at par on any interest payment date from April 9, 2010 onward.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	100% principal-protected leveraged callable CMS spread notes
Amount:	$4,835,000, upsized from $750,000
Maturity:	April 9, 2024
Coupon:	12% for the first year; beginning April 9, 2010, 7.5 times the spread of the 10-year CMS rate over the two-year CMS rate with a cap of 15% and a floor of zero; payable semiannually
Price:	Variable
Payout at maturity:	Par
Call option:	At par on any interest payment date from April 9, 2010 onward
Pricing date:	March 23 for $750,000; April 6 for $4,085,000
Settlement date:	April 9
Agent:	Barclays Capital Inc.
Fees:	5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.