New Issue: Barclays prices $2.98 million callable step-up notes due 2032 with 4.25% initial rate

By Toni Weeks

San Diego, June 20 - Barclays Bank plc priced $2.98 million of callable step-up fixed-rate notes due June 21, 2032, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4.25% for the first 10 years. It will step up to 6.25% on June 21, 2022 and to 8.25% on June 21, 2027. Interest is payable semiannually.

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

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:	$2,977,000
Maturity:	June 21, 2032
Coupon:	Initially 4.25%, stepping up to 6.25% on June 21, 2022 and to 8.25% on June 21, 2027; payable semiannually
Price:	Par
Call option:	At par on any interest payment date beginning June 21, 2013
Payout at maturity:	Par
Pricing date:	June 18
Settlement date:	June 21
Agent:	Barclays Capital Inc.
Fees:	2.5%
Cusip:	06741TAC1

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