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Barclays plans step-up callable notes due 2028 with 3% initial rate
By Toni Weeks
San Diego, Jan. 7 - Barclays Bank plc plans to price fixed-rate step-up callable notes due Jan. 28, 2028, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 3% for the first seven years, stepping up to 4% on Jan. 28, 2019, to 5% on Jan. 28, 2022 and to 6% on Jan. 28, 2025. 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.
The notes (Cusip: 06741TMN4) will settle Jan. 28.
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