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Barclays plans callable fixed-to-floaters linked to ICE swap rate
By Marisa Wong
Morgantown, W.Va., Dec. 20 – Barclays Bank plc plans to price callable fixed-to-floating notes due Dec. 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be fixed at 3.25% for the first two years. After that, the interest rate will equal the 10-year U.S. dollar ICE swap rate. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date occurring in June or December, beginning Dec. 29, 2017.
Barclays is the agent.
The note will settle on Dec. 29.
The Cusip number is 06741VFT4.
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