New Issue: Barclays prices $420,000 callable step-up notes with 4.5% initial rate

By Angela McDaniels

Tacoma, Wash., April 13 - Barclays Bank plc priced $420,000 of callable step-up fixed-rate notes due April 14, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is initially 4.5%. It will step up to 5.25% on April 14, 2016, to 6.25% on April 14, 2021 and to 7.5% on April 14, 2024. Interest is payable semiannually.

The payout at maturity will be par.

After one year, the notes will be callable at par on any interest payment date.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable step-up fixed-rate notes
Amount:	$420,000
Maturity:	April 14, 2026
Coupon:	4.5% initially, steps up to 5.25% on April 14, 2016, to 6.25% on April 14, 2021 and to 7.5% on April 14, 2024; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on interest payment dates starting April 14, 2012
Pricing date:	April 11
Settlement date:	April 14
Agent:	Barclays Capital Inc.
Fees:	1.75%
Cusip:	06738JNV2

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