By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – Barclays Bank plc priced $21 million of floored fixed-to-floating rate notes due Oct. 30, 2017 linked to three-month Libor, according to a 424B2 filed with the Securities and Exchange Commission.
The interest rate will be 1% initially. Beginning on Oct. 30, 2016, the interest rate will be equal to Libor plus 30 basis points, subject to a minimum rate of 50 bps. Interest will be payable quarterly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Floored fixed-to-floating rate notes
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| Underlier: | Three-month Libor
|
| Amount: | $21 million
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| Maturity: | Oct. 30, 2017
|
| Coupon: | 1% initially; beginning Oct. 30, 2016, Libor plus 30 basis points, subject to 50 bps minimum; payable quarterly
|
| Price: | Variable
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| Payout at maturity: | Par
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Agent: | Barclays
|
| Fees: | 0.25%
|
| Cusip: | 06741UQ31
|
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