Published on 2/7/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.08 million more fixed-to-floating notes on Consumer Price Index
By Marisa Wong
Madison, Wis., Feb. 7 - Barclays Bank plc priced an additional $3.08 million of fixed-to-floating notes due Feb. 9, 2021 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $7.38 million. An initial $4.3 million of the fixed-to-floating notes was priced on Feb. 4.
The interest rate will be 4.25% for the first year. Beginning Feb. 9, 2012, the interest rate will be the year-over-over change in the index plus 200 basis points, subject to a minimum rate of 1%. Interest is payable monthly.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Fixed-to-floating notes
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Underlying index: | Consumer Price Index
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Amount: | $7,375,000 (increased from $4.3 million)
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Maturity: | Feb. 9, 2021
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Coupon: | Initially 4.25%; beginning Feb. 9, 2012, year-over-over change in index plus 200 bps, subject to minimum rate of 1%; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | Feb. 4 for $4.3 million, Feb. 7 for $3,075,000
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| Settlement date: | Feb. 9
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Agent: | Barclays Capital Inc.
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Fees: | 0.5%
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Cusip: | 06738KBW0
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