By Toni Weeks
San Diego, March 29 - Barclays Bank plc priced $25 million of fixed-rate callable range accrual notes due April 8, 2026 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 8% per year multiplied by the proportion of days on which the index closes at or above 925 and six-month Libor is 6.5% or less. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning April 8, 2012, the notes will be callable at par on any interest payment date.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed-rate callable range accrual notes
|
| Underlying components: | S&P 500 index and six-month Libor
|
| Amount: | $25 million
|
| Maturity: | April 8, 2026
|
| Coupon: | 8% for each day that index closes at or above 925 and six-month Libor is 6.5% or less
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Pricing date: | March 28
|
| Settlement date: | April 8
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3.25%
|
| Cusip: | 06738KFM8
|
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