Published on 9/12/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.83 million step-up callables with 3% initial rate
By Jennifer Chiou
New York, Sept. 12 - Barclays Bank plc priced $6,831,000 of step-up callable notes due Sept. 13, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first five years, stepping up to 4% on Sept. 13, 2017, to 5.5% on Sept. 13, 2019 and to 6.5% on Sept. 13, 2021. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Step-up callable notes
|
Amount: | $6,831,000
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Maturity: | Sept. 13, 2022
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Coupon: | 3% initially, stepping up to 4% on Sept. 13, 2017, to 5.5% on Sept. 13, 2019 and to 6.5% on Sept. 13, 2021; payable semiannually
|
Price: | Par
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Payout at maturity: | Par
|
Call option: | At par on any interest payment date beginning on Sept. 13, 2013
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Pricing date: | Sept. 10
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Settlement date: | Sept. 13
|
Agent: | Barclays
|
Fees: | 1.5%
|
Cusip: | 06741TET0
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