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Barclays plans step-up fixed-rate notes due 2028 with 2.5% initial rate
By Susanna Moon
Chicago, March 18 - Barclays Bank plc plans to price step-up fixed-rate notes due March 28, 2028, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 2.5% for the first year. After that, it will step up to 2.75% on March 28, 2018, to 3% on March 28, 2020, to 3.75% on March 28, 2022, to 4% on March 28, 2023 and to 5% on April 12, 2025. Interest will be payable semiannually.
The payout at maturity will be par.
Barclays is the underwriter.
The notes will price on March 25 and settle on March 28.
The Cusip number is 06741RGF2.
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