New Issue: Barclays sells $8.7 million callable step-up notes with 3% initial rate

By Toni Weeks

San Diego, May 17 - Barclays Bank plc priced $8.7 million of callable step-up fixed-rate notes due May 21, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% for the first five years. It will step up to 5% on May 21, 2017 and to 7% on May 21, 2018. Interest is payable semiannually.

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

The payout at maturity will be par.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable step-up fixed-rate notes
Amount:	$8,703,000
Maturity:	May 21, 2019
Coupon:	Initially 3%, stepping up to 5% on May 21, 2017 and to 7% on May 21, 2018; payable semiannually
Price:	Par
Call option:	At par on any interest payment date beginning Nov. 21, 2012
Payout at maturity:	Par
Pricing date:	May 16
Settlement date:	May 21
Agent:	Barclays Capital Inc.
Fees:	1.125%
Cusip:	06738K4J7

© 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.