By Angela McDaniels
Tacoma, Wash., Jan. 4 - Barclays Bank plc priced $1 million of step-up fixed-rate callable notes due Jan. 27, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is initially 5%. It will step up to 5.5% on Jan. 27, 2018 and to 7% on Jan. 27, 2023. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Jan. 27, 2012, the notes will be callable at par on any interest payment date.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Step-up fixed-rate callable notes
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Amount: | $1 million
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Maturity: | Jan. 27, 2026
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Coupon: | 5% for years one through seven, 5.5% for years eight through 12 and 7% for years 13 through 15; payable semiannually
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on interest payment dates after one year
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Pricing date: | Jan. 4
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Settlement date: | Jan. 27
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Agent: | Barclays Capital Inc.
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Fees: | 3%
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Cusip: | 06740PQ58
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