New Issue: Barclays prices $12.6 million callable step-up fixed-rate notes with 5.1% initial rate

By Toni Weeks

San Diego, Oct. 13 - Barclays Bank plc priced $12.6 million of callable step-up fixed-rate notes due Oct. 17, 2033, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 5.1% for the first 10 years. It will step up to 6% on Oct. 17, 2021 and to 6.5% on Oct. 17, 2028. Interest is payable semiannually.

The payout at maturity will be par.

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

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable step-up fixed-rate notes
Amount:	$12,602,000
Maturity:	Oct. 17, 2033
Coupon:	5.1% initially, steps up to 6% on Oct. 17, 2021 and to 6.5% on Oct. 17, 2028; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on interest payment dates starting Oct. 17, 2012
Pricing date:	Oct. 12
Settlement date:	Oct. 17
Agent:	Barclays Capital Inc.
Fees:	2.5%
Cusip:	06738JV84

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