Published on 5/25/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10.13 million floored fixed-to-floating notes due 2016
By Susanna Moon
Chicago, May 21 - Barclays Bank plc priced $10.13 million of floored fixed-to-floating notes due Nov. 29, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.5% for the first year. After that, the rate will be Libor plus 100 basis points, with a minimum rate of 1.5%. Interest is payable quarterly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Floored fixed-to-floating notes
|
Amount: | $10,126,000
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Maturity: | Nov. 29, 2016
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Coupon: | 3.5% initially; beginning May 29, 2013, Libor plus 100 bps, floor of 1.5%; payable quarterly
|
Price: | Par
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Payout at maturity: | Par
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Pricing date: | May 24
|
Settlement date: | May 29
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Agent: | Barclays Capital Inc.
|
Fees: | 0.75%
|
Cusip: | 06738K5P2
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