Published on 3/20/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million capped fixed-to-floaters due 2020 with 2% initial rate
By Jennifer Chiou
New York, March 20 - Barclays Bank plc priced $1 million of capped fixed-to-floating notes due April 3, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% initially. Beginning on April 3, 2014, the rate will be Libor plus 125 basis points, subject to a maximum rate of 5% and a floor of zero. Interest is payable monthly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Capped fixed-to-floating notes
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Amount: | $1 million
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Maturity: | April 3, 2020
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Coupon: | Initially 2%; beginning April 3, 2014, Libor plus 125 bps, capped at 5%; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | March 18
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Settlement date: | April 3
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Agent: | Barclays Capital Inc.
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Fees: | 1.25%
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Cusip: | 06741TRE9
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