By Toni Weeks
San Diego, Jan. 19 - Barclays Bank plc priced $1 million of step-up fixed-rate callable notes, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4.5% for the first six years. It will step up to 5% for years seven and eight and to 6% for years nine and 10. Interest is payable semiannually.
The payout on the maturity date of Feb. 17, 2021 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: | $1 million
|
| Maturity: | Feb. 17, 2021
|
| Coupon: | 4.5% initially, steps up to 5% on Feb. 17, 2017 and to 6% on Feb. 17, 2019; payable semiannually
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates starting Feb. 17, 2012
|
| Pricing date: | Jan. 18
|
| Settlement date: | Feb. 17
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06741JCD9
|
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