Published on 2/25/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $8.51 million step-up callable notes due 2021
By Angela McDaniels
Tacoma, Wash., Feb. 25 - Barclays Bank plc priced $8.51 million of step-up callable fixed-rate notes due Feb. 26, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% in years one through three, 2.25% in years four and five, 3.5% in year six, 4% in year seven and 6% in year eight. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Step-up callable fixed-rate notes
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Amount: | $8,505,000
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Maturity: | Feb. 26, 2021
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Coupon: | 2% in years one through three, 2.25% in years four and five, 3.5% in year six, 4% in year seven and 6% in year eight; payable semiannually
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Price: | Variable prices
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Payout at maturity: | Par
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Call option: | At par on any interest payment date
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Pricing date: | Feb. 21
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Settlement date: | Feb. 26
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Agent: | Barclays
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Fees: | 1.125%
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Cusip: | 06741TNJ2
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