Barclays to price fixed-to-floaters linked to 10-year ICE swap rate

By Sarah Lizee

Olympia, Wash., March 19 – Barclays Bank plc plans to price fixed-to-floating notes due April 20, 2023 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 4% for the first year. 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 settle on April 20.

The Cusip number is 06746X2T9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.