New Issue: Barclays prices $185,000 callable step-up fixed-rate notes with 4% initial rate

By E. Janene Geiss

Philadelphia, July 27 - Barclays Bank plc priced $150,000 of callable step-up fixed-rate notes due July 28, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% for the first five years. It will step up to 5% on July 28, 2016, to 5.5% on July 28, 2021 and to 7% on July 28, 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:	$185,000
Maturity:	July 28, 2026
Coupon:	4% initially, steps up to 5% on July 28, 2016, to 5% on July 28, 2021, to 5.5% on July 28, 2022 and to July 28, 2024; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on interest payment dates starting on July 28, 2012
Pricing date:	July 25
Settlement date:	July 28
Agent:	Barclays Capital Inc.
Fees:	1.75%
Cusip:	06738JSR6

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