Published on 1/24/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $975,000 callable step-up fixed-rate notes with 2.5% initial rate
By Wendy Van Sickle
Columbus, Ohio, Jan. 24 – Barclays Bank plc priced $975,000 of callable step-up fixed-rate notes due Jan. 26, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.5% for the first three years, stepping up to 3% on Jan. 26, 2020, to 4% on Jan. 26, 2021 and to 5.25% on July 26, 2021. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Jan. 26, 2018.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable step-up fixed-rate notes
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Amount: | $975,000
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Maturity: | Jan. 26, 2022
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Coupon: | 2.5% for the first three years, stepping up to 3% on Jan. 26, 2020, to 4% on Jan. 26, 2021 and to 5.25% on July 26, 2021; payable semiannually
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Price: | Par of $1,000
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Jan. 26, 2018
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Pricing date: | Jan. 20
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Settlement date: | Jan. 26
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Underwriters: | Barclays Capital Inc.
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Fees: | 0.75%
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Cusip: | 06741VH62
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