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Barclays plans to price callable step-up notes with 1.5% initial rate
By Toni Weeks
San Luis Obispo, Calif., Feb. 2 – Barclays Bank plc plans to price callable step-up fixed-rate notes due Feb. 18, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1.5% for the first two years, stepping up to 2% on Feb. 18, 2017 and to 4% on Feb. 18, 2019. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after two years.
Barclays is the agent.
The notes (Cusip: 06741UQK3) will price Feb. 12 and settle Feb. 18.
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