Barclays plans five-year fixed-to-floaters with 2% start rate, 4% cap

By Susanna Moon

Chicago, Dec. 6 - Barclays Bank plc plans to price capped and floored fixed-to-floating notes due Dec. 24, 2018, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2% for the first year. After that, it will be Libor plus 40 basis points to 50 bps, up to a maximum interest rate of 4% and with a minimum rate of 1.5%. Interest is payable quarterly.

The payout at maturity will be par.

Barclays will be the agent.

The notes will price on Dec. 19 and settle on Dec. 24.

The Cusip number is 06741T2Z9.

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