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Barclays plans 15-year step-up callable notes with 3% initial rate
By Marisa Wong
Madison, Wis., Jan. 13 – Barclays Bank plc plans to price step-up fixed-rate callable notes due Jan. 30, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% for the first eight years, stepping up to 3.25% on Jan. 30, 2023, to 4% on Jan. 30, 2025, to 5% on Jan. 30, 2027 and to 6% on Jan. 30, 2029. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
The notes will price on Jan. 27 and settle on Jan. 30.
The Cusip number is 06741UPM0.
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