New Issue: Barclays prices $10.59 million step-up callables with 3.125% initial rate

By Jennifer Chiou

New York, May 6 - Barclays Bank plc priced $10.59 million of callable step-up fixed-rate notes due May 10, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3.125% for the first three years. It will step up to 4% on May 10, 2014, to 5.25% on May 10, 2016 and to 7.25% on May 10, 2018. 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:	$10,585,000
Maturity:	May 10, 2019
Coupon:	3.125% initially, stepping up to 4% on May 10, 2014, to 5.25% on May 10, 2016 and to 7.25% on May 10, 2018; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on interest payment dates starting on May 10, 2012
Pricing date:	May 5
Settlement date:	May 10
Agent:	Barclays Capital Inc.
Fees:	1.3%
Cusip:	06738KHZ7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.