By Angela McDaniels
Tacoma, Wash., Dec. 13 - Barclays Bank plc priced $14 million of fixed-rate step-up callable notes due Dec. 14, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4.25% in years one through three, 5.5% in years four through six, 7% in years seven and eight and 9% in years nine and 10. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Dec. 14, 2012, the notes will be callable at par on any interest payment date.
Barclays Capital Inc. is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
Issuer: | Barclays Bank plc
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Issue: | Fixed-rate step-up callable notes
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Amount: | $14 million
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Maturity: | Dec. 14, 2021
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Coupon: | 4.25% in years one through three, 5.5% in years four through six, 7% in years seven and eight and 9% in years nine and 10; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on interest payment dates from Dec. 14, 2012 onward
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Pricing date: | Dec. 9
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Settlement date: | Dec. 14
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Agent: | Barclays Capital Inc.
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 1.5%
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Cusip: | 06738KA50
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