By Angela McDaniels
Tacoma, Wash., Sept. 28 - Barclays Bank plc priced an additional $600,000 of floored callable fixed-to-floating-rate notes due Oct. 1, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The issue size is now $1.6 million. The original $1 million of notes priced Sept. 20.
The interest rate for the first year is 7%. After that, the interest rate will be (a) 7.54% minus (b) Libor times 1.3, subject to a minimum interest rate of 1%. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Oct. 1, 2012, the notes are callable at par on any interest payment date.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Floored callable fixed-to-floating-rate notes
|
| Amount: | $1.6 million, increased from $1 million
|
| Maturity: | Oct. 1, 2026
|
| Coupon: | Initially 7%; beginning Oct. 1, 2012, (a) 7.54% minus (b) Libor times 1.3, subject to minimum interest rate of 1%; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Oct. 1, 2012 onward
|
| Pricing dates: | Sept. 20 for $1 million; Sept. 27 for $600,000
|
| Settlement date: | Sept. 30
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3.5%
|
| Cusip: | 06738KVS7
|
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