Published on 1/23/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.46 million step-up callable notes with 3% initial rate
By Jennifer Chiou
New York, Jan. 23 - Barclays Bank plc priced $3,458,000 of 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 six years and will step up to 6% beginning on Jan. 24, 2020. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning on July 24, 2014, the notes will be callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Step-up fixed-rate callable notes
|
| Amount: | $3,458,000
|
| Maturity: | Jan. 24, 2024
|
| Coupon: | 3% for the first six years; 6% beginning on Jan. 24, 2020; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 24, 2014
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 24
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741T4G9
|
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