New Issue: Barclays prices $1 million step-up fixed-rate callable notes with 3% initial rate

By Marisa Wong

Madison, Wis., March 12 - Barclays Bank plc priced $1 million of step-up fixed-rate callable notes due March 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% for the first three years. It will step up to 4% on March 30, 2015, to 5% on March 30, 2018, to 6% on March 30, 2020 and to 7% on March 30, 2021. 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:	Step-up fixed-rate callable notes
Amount:	$1 million
Maturity:	March 30, 2022
Coupon:	3% for first three years and steps up to 4% on March 30, 2015, to 5% on March 30, 2018, to 6% on March 30, 2020 and to 7% on March 30, 2021; payable semiannually
Price:	Variable prices
Payout at maturity:	Par
Call option:	At par on interest payment dates starting March 30, 2013
Pricing date:	March 12
Settlement date:	March 30
Agent:	Barclays Capital Inc.
Fees:	3%
Cusip:	06738KX63

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.