Published on 8/2/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $11.07 million callable step-up fixed-rate notes with 5% initial rate
By Susanna Moon
Chicago, Aug. 2 - Barclays Bank plc priced $11.07 million of callable step-up fixed-rate notes due Aug. 4, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 5% for the first 10 years. It will step up to 5.5% on Aug. 4, 2021, to 5.75% on Aug. 4, 2026 and to 6.25% on Aug. 4, 2031. 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
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Issue: | Callable step-up fixed-rate notes
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Amount: | $11,074,000
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Maturity: | Aug. 4, 2036
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Coupon: | 5% initially, stepping up to 5.5% on Aug. 4, 2021, to 5.75% on Aug. 4, 2026 and to 6.25% on Aug. 4, 2031; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning on Aug. 4, 2012
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Pricing date: | Aug. 1
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Settlement date: | Aug. 4
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Agent: | Barclays Capital Inc.
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Fees: | 2.75%
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Cusip: | 06738JT38
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