New Issue: Barclays prices $505,000 callable step-up notes with 4% initial rate

By Toni Weeks

San Diego, June 15 - Barclays Bank plc priced $505,000 of callable step-up fixed-rate notes due June 16, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% for the first six years. It will step up to 4.75% on June 16, 2017 and to 6% on June 16, 2023. Interest is payable semiannually.

The notes are callable at par on any interest payment date after one year.

The payout at maturity will be par.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable step-up fixed-rate notes
Amount:	$505,000
Maturity:	June 16, 2027
Coupon:	4% initially, stepping up to 4.75% on June 16, 2017 and to 6% on June 16, 2023; payable semiannually
Price:	Par
Call option:	At par on any interest payment date beginning June 16, 2012
Payout at maturity:	Par
Pricing date:	June 13
Settlement date:	June 16
Agent:	Barclays Capital Inc.
Fees:	1.85%
Cusip:	06738JRH9

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