Published on 3/28/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10 million floating-rate notes tied to ICE swap rate
By Sarah Lizee
Olympia, Wash., March 28 – Barclays Bank plc priced $10 million of floating-rate notes due March 29, 2021 linked to the 30-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be equal to the 30-year swap rate plus a spread of 5 basis points per year, subject to a minimum interest rate of 0%. Interest will be payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Floating-rate notes
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| Underlying index: | 30-year U.S. dollar ICE swap rate
|
| Amount: | $10 million
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| Maturity: | March 29, 2021
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| Coupon: | 30-year swap rate plus a spread of 5 bps per year, subject to floor of 0%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | March 26
|
| Settlement date: | March 19
|
| Underwriter: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06746X3B7
|
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