Published on 3/29/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6 million step-up fixed-rate callable notes with 2.25% initial rate
By Wendy Van Sickle
Columbus, Ohio, March 29 – Barclays Bank plc priced $6 million of step-up fixed-rate callable notes due Sept. 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.25% for the first year, stepping up to 2.5% on March 30, 2018, to 3% on March 30, 2019, to 3.5% on March 30, 2020, to 4.5% on March 30 2021 and to 5.5% on March 30, 2022. 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 Sept. 30, 2017.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Step-up fixed-rate callable notes
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Amount: | $6 million
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Maturity: | Sept. 30, 2022
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Coupon: | 2.25% for the first year, stepping up to 2.5% on March 30, 2018, to 3% on March 30, 2019, to 3.5% on March 30, 2020, to 4.5% on March 30 2021 and to 5.5% on March 30, 2022; 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 Sept. 30, 2017
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Pricing date: | March 27
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Settlement date: | March 30
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Underwriters: | Barclays Capital Inc.
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Fees: | 0.875%
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Cusip: | 06741RHL8
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