Barclays calls $2.73 million of CMS steepener notes due 2025

By Marisa Wong

Madison, Wis., Nov. 16 - Barclays Bank plc gave notice that it will redeem its $2,728,000 of outstanding callable CMS steepener notes due May 25, 2025 in full on Nov. 26.

The notes (Cusip: 06740LJ55) will be redeemed at par plus accrued interest to the redemption date. Interest is equal to four times the spread of the 10-year Constant Maturity Swap rate minus the two-year CMS rate, subject to a floor of 0% and a cap of 13%.

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