Published on 10/27/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $27.95 million capped, floored fixed-to-floating notes
By Susanna Moon
Chicago, Oct. 27 - Barclays Bank plc priced $27.95 million of capped and floored fixed-to-floating notes due Oct. 28, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4.375% for the first two years. After that, it will be Libor plus 200 basis points, with a minimum interest rate of 2.5% and a maximum interest rate of 7%. Interest is payable quarterly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent with Morgan Stanley Smith Barney LLC as dealer.
Issuer: | Barclays Bank plc
|
Issue: | Capped and floored fixed-to-floating notes
|
Amount: | $27,954,000
|
Maturity: | Oct. 28, 2016
|
Coupon: | 4.375% initially; beginning Oct. 28, 2013, Libor plus 200 bps, floor of 2.5% and capped at 7%; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | Oct. 25
|
Settlement date: | Oct. 28
|
Agent: | Barclays Capital Inc. with Morgan Stanley Smith Barney LLC as dealer
|
Fees: | 1.25%
|
Cusip: | 06738KXV8
|
© 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.