By Angela McDaniels
Tacoma, Wash., May 14 - Barclays Bank plc priced $9.88 million of callable step-up fixed-rate notes due May 17, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the underwriter.
The interest rate is 4% in years one through six, 4.45% in years seven through 10, 5.7% in years 11 through 13 and 7.45% in years 14 and 15. Interest is payable semiannually.
The payout at maturity will be par.
Beginning May 17, 2015, the notes are callable at par on any interest payment date.
| Issuer: | Barclays Bank plc
|
| Issue: | Step-up fixed-rate callable notes
|
| Amount: | $9,879,000
|
| Maturity: | May 17, 2027
|
| Coupon: | 4% in years one through six, 4.45% in years seven through 10, 5.7% in years 11 through 13 and 7.45% in years 14 and 15; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from May 17, 2015 onward
|
| Pricing date: | May 11
|
| Settlement date: | May 17
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 06738K4P3
|
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