Published on 2/21/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $16 million floored floating-rate notes with 2% floor
By Marisa Wong
Madison, Wis., Feb. 21 - Barclays Bank plc priced $16 million of floored floating-rate notes due Aug. 25, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be the 30-year Constant Maturity Swap rate times 0.7, subject to a minimum interest rate of 2%. Interest is payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Floored floating-rate notes
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Amount: | $16 million
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Maturity: | Aug. 25, 2023
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Coupon: | 30-year CMS rate times 0.7, floor of 2%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Feb. 20
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Settlement date: | Feb. 25
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06741T5Y9
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