Published on 4/20/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $780,000 fixed-to-floating notes with 1.5% initial rate
By Toni Weeks
San Luis Obispo, Calif., April 20 – Barclays Bank plc priced $780,000 of fixed-to-floating notes due April 22, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 1.5% for the first two years. After that, it will be Libor plus 55 basis points, subject to a maximum rate of 4%. Interest will be payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $780,000
|
| Maturity: | April 22, 2020
|
| Coupon: | 1.5% initially; beginning April 22, 2017, Libor plus 55 bps, capped at 4%; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06741UTV6
|
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