By Susanna Moon
Chicago, Jan. 31 - Barclays Bank plc priced another $7.18 million of callable EUR CMS steepener notes due Feb. 3, 2026 linked to the 30-year and two-year EUR Constant Maturity Swap rates, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $8.33 million, up from $1.15 million.
The interest rate is 10.5% for the first year. After that, the per-year interest rate will equal seven times the spread of the 30-year EUR CMS rate over the two-year EUR CMS rate, subject to a floor of zero and a cap of 11%. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Feb. 3, 2012, the notes will be callable at par on any interest payment date.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable EUR CMS steepener notes
|
| Amount: | $8,329,000, up from $1.15 million
|
| Maturity: | Feb. 3, 3026
|
| Coupon: | Initially 10.5%; after one year, seven times spread of 30-year EUR CMS rate over two-year EUR CMS rate, with floor of zero and cap of 11%; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from Feb. 3, 2012 onward
|
| Pricing date: | Jan. 20 for $1.15 million; Jan. 31 for $7,179,000
|
| Settlement date: | Feb. 3
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 5%
|
| Cusip: | 06741JCC1
|
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