By Susanna Moon
Chicago, Feb. 2 - Barclays Bank plc priced $65 million of floating-rate notes due Jan. 27, 2017 linked to changes in the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 4.5% for the first year. After that, interest will be 1.5 times the change in the CPI, with a floor of 0%. The cap will be 7% in year three, 8% in years four and five and 9% in years six and seven. Interest is payable monthly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Floating-rate notes
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Underlying index: | Consumer Price Index
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Amount: | $65 million
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Maturity: | Jan. 27, 2017
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Coupon: | 4.5% for one year; thereafter, 150% of CPI change; floor of 0% and cap of 7% in year three, 8% in years four and five and 9% in years six and seven; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | Jan. 29
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Settlement date: | Feb. 8
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Agent: | Barclays Capital Inc.
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Fees: | None
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Cusip: | 06740JTK6
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