Barclays to price fixed-to-floaters on 10-year dollar ICE swap rate

By Sarah Lizee

Olympia, Wash., Feb. 27 – Barclays Bank plc plans to price fixed-to-floating rate notes due March 9, 2028 tied to the 10-year U.S. Dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 5.25% for the first two years. After that, the interest rate will be equal to the 10-year swap rate, subject to the minimum interest rate of 0%. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the agent.

The notes will price on March 6 and settle on March 9.

The Cusip number is 06744CYW5.

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