By Susanna Moon
Chicago, Oct. 27 - Barclays Bank plc priced $2.88 million of callable step-up fixed-rate notes due Oct. 28, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first eight years. After that, the rate will be 4.125% to Oct. 28, 2021, 4.5% to Oct. 28, 2023, 7.5% to Oct. 28, 2025 and 8% until maturity. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Oct. 28, 2011.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $2,879,000
|
| Maturity: | Oct. 28, 2026
|
| Coupon: | 4% for eight years; 4.125% for years nine to 11; 4.5% for years 12 to 13; 7.5% for years 14 and 15; and 8% thereafter
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.85%
|
| Cusip: | 06738JMS0
|
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