New Issue: Barclays prices $1 million callable range accrual notes on six-month Libor, S&P 500

By Jennifer Chiou

New York, Oct. 28 - Barclays Bank plc priced $1 million of callable range accrual notes due Nov. 18, 2025 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at a specified rate within a date range for each day that six-month Libor is 6.5% or less and the S&P 500 closes at or above 875. The rate is initially 7%, rising to 7.5% on Nov. 18, 2016, to 8% on Nov. 18, 2020 and to 10% on Nov. 18, 2023. Interest is payable quarterly.

The payout at maturity will be par.

The notes are callable at par on any interest payment date beginning on Nov. 18, 2011.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable range accrual notes
Amount:	$1 million
Maturity:	Nov. 18, 2025
Coupon:	At specified rate for each day that six-month Libor is 6.5% or less and S&P 500 closes at or above 875; initially 7%, rising to 7.5% on Nov. 18, 2016, to 8% on Nov. 18, 2020 and to 10% on Nov. 18, 2023; payable quarterly
Price:	Variable
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning Nov. 18, 2011
Pricing date:	Oct. 27
Settlement date:	Nov. 18
Agent:	Barclays Capital Inc.
Fees:	4%
Cusip:	06740PB96

© 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.