Barclays to price step-up callable notes with 2.5% initial rate

By Sarah Lizee

Olympia, Wash., April 2 – Barclays Bank plc plans to price step-up fixed-rate callable notes due Oct. 9, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.5% initially, stepping up to 2.7% on Oct. 9, 2018 and to 2.85% on April 9, 2019. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning on Oct. 9, 2018.

The notes (Cusip: 06746X5A7) are expected to price on April 3 and settle on April 9.

Barclays is the agent.

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