New Issue: Barclays prices $2.04 million step-up notes with 4.625% initial rate

By Toni Weeks

San Diego, Jan. 12 - Barclays Bank plc priced $2.04 million of step-up fixed-rate callable notes, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4.625% for the first five years. It will step up to 5% for years six through 10, 5.75% for years 11 through 14 and 7% for years 15 and 16. Interest is payable semiannually.

The payout on the maturity date of Jan. 13, 2027 will be par.

After one year, the notes will be callable at par on any interest payment date.

Barclays Capital is the agent.

Issuer:	Barclays Bank plc
Issue:	Step-up fixed-rate callable notes
Amount:	$2.04 million
Maturity:	Jan. 13, 2027
Coupon:	4.625% initially, steps up to 5% on Jan. 13, 2016, to 5.75% on Jan. 13, 2021 and to 7% on Jan. 13, 2025, payable semiannually
Price:	Variable
Payout at maturity:	Par
Call option:	At par on interest payment dates starting Jan. 13, 2012
Pricing date:	Jan. 10
Settlement date:	Jan. 13
Agent:	Barclays Capital Inc.
Fees:	1.85%
Cusip:	06738J6G4

© 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.