New Issue: Barclays prices $6.56 million callable step-up notes due 2037 with 4% initial rate

By Toni Weeks

San Diego, Oct. 4 - Barclays Bank plc priced $6.56 million of callable step-up fixed-rate notes due Oct. 9, 2037, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% for the first 15 years. It will step up to 5% on Oct. 9, 2027, to 6% on Oct. 9, 2031 and to 8% on Oct. 9, 2035. Interest is payable semiannually.

The notes are callable at par on any interest payment date after two years.

The payout at maturity will be par.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable step-up fixed-rate notes
Amount:	$6,556,000
Maturity:	Oct. 9, 2037
Coupon:	4% initially, stepping up to 5% on Oct. 9, 2027, to 6% on Oct. 9, 2031 and to 8% on Oct. 9, 2035; payable semiannually
Price:	Variable prices
Call option:	At par on any interest payment date beginning Oct. 9, 2014
Payout at maturity:	Par
Pricing date:	Oct. 3
Settlement date:	Oct. 9
Agent:	Barclays
Fees:	1.625%
Cusip:	06741TGW1

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