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Barclays to price callable CMS spread range accrual notes due 2028
By Angela McDaniels
Tacoma, Wash., Aug. 7 - Barclays Bank plc plans to price callable CMS spread range accrual notes due Aug. 22, 2028 linked to the 30-year Constant Maturity Swap rate and the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6% per year multiplied by the proportion of days on which the 30-year CMS rate exceeds the two-year CMS rate by 25 basis points or more. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date.
Barclays is the agent.
The notes will settle Aug. 22.
The Cusip number is 06741TC70.
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