Published on 3/9/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.11 million step-up notes with 4% initial rate
By Toni Weeks
San Diego, March 9 - Barclays Bank plc priced $2.11 million of step-up fixed-rate notes due March 10, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4% for the first four years. It will step up to 4.25% on March 10, 2015, to 4.5% on March 10, 2017, to 5.5% on March 10, 2019 and to 7% on March 10, 2020. Interest is payable semiannually.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Step-up fixed-rate notes
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Amount: | $2,109,000
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Maturity: | March 10, 2021
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Coupon: | 4% initially, steps up to 4.25% on March 10, 2015, to 4.5% on March 10, 2017, to 5.5% on March 10, 2019 and to 7% on March 10, 2020, payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | March 7
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Settlement date: | March 10
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Agent: | Barclays Capital Inc.
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Fees: | 1.25%
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Cusip: | 06738JH49
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