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Barclays plans to price step-up callable notes with 3% initial rate
By Toni Weeks
San Luis Obispo, Calif., Jan. 7 - Barclays Bank plc plans to price step-up fixed-rate callable notes due Jan. 24, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% for the first five years and will step up to 6% beginning on Jan. 24, 2019. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning June 27, 2014, the notes will be callable at par on any interest payment date.
Barclays is the agent.
The notes will price Jan. 21 and settle Jan. 24.
The Cusip number is 06741T4G9.
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