Barclays plans six-year step-up callable notes with 3% initial rate

By Susanna Moon

Chicago, March 21 – Barclays Bank plc plans to price step-up fixed-rate callable notes due March 31, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% for the first three years, stepping up to 3.5% on March 31, 2020. 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 March 31, 2018.

Barclays is the agent.

The notes will settle on March 31.

The Cusip number is 06741VPP1.

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