Published on 5/20/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.8 million fixed-to-floating notes due 2020
By Angela McDaniels
Tacoma, Wash., May 20 - Barclays Bank plc priced $1.8 million of capped fixed-to-floating-rate notes due May 22, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.25% for the first year. Beginning May 22, 2014, the interest rate will be Libor plus 60 basis points, subject to a minimum of zero and a maximum rate of 6% per year. Interest is payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Capped fixed-to-floating-rate notes
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Amount: | $1.8 million
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Maturity: | May 22, 2020
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Coupon: | 2.25% for first year; beginning May 22, 2014, Libor plus 60 bps, subject to minimum of zero and maximum of 6%; payable quarterly
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Price: | Variable prices
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Payout at maturity: | Par
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Pricing date: | May 17
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Settlement date: | May 22
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Agent: | Barclays
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Fees: | 1.25%
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Cusip: | 06741TUV7
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