By Jennifer Chiou
New York, Dec. 1 - Barclays Bank plc priced $517,000 of step-up fixed-rate callable notes due Dec. 2, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is initially 4% and steps up to 4.75% on Dec. 2, 2017, to 6% on Dec. 2, 2020 and to 8% on Dec. 2, 2023. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Dec. 2, 2011, the notes are callable at par on any interest payment date.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Step-up fixed-rate callable notes
|
| Amount: | $517,000
|
| Maturity: | Dec. 2, 2025
|
| Coupon: | 4% for years one through seven, 4.75% for years eight through 10, 6% for years 11 through 13 and 8% for years 14 and 15; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Dec. 2, 2011 onward
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 2
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.75%
|
| Cusip: | 06738J3B8
|
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