By Angela McDaniels
Tacoma, Wash., May 19 - Barclays Bank plc priced an additional $750,000 of callable range accrual notes due May 21, 2025 linked to six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The notes bring the issue size to $1 million. The original $250,000 of notes priced May 6.
Interest is payable quarterly and equals the applicable rate multiplied by the proportion of days on which six-month Libor is no greater than the barrier. The applicable rate is 7% per year for the first five years, 8% per year for the next five years and 10% per year for the final five years. The barrier is 5% for the first five years, 6% for the next five years and 7% for the final five years.
The payout at maturity will be par.
The notes are callable at par on any interest payment date.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable range accrual notes
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Amount: | $1 million, upsized from $250,000
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Maturity: | May 21, 2025
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Coupon: | Applicable rate multiplied by proportion of days on which six-month Libor is less than or equal to barrier; applicable rate is 7% for first five years, 8% for next five years and 10% for final five years; barrier is 5% for first five years, 6% for next five years and 7% for final five years; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on any interest payment date
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Pricing dates: | May 6 for $250,000; May 18 for $750,000
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Settlement date: | May 21
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Agent: | Barclays Capital Inc.
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Fees: | 3.5%
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Cusip: | 06740LTR6
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