Barclays plans step-up callable notes due 2021 with 3% start rate

By Sarah Lizee

Olympia, Wash., April 27 – Barclays Bank plc plans to price step-up fixed-rate callable notes due May 18, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% initially and step up to 4.25% on May 18, 2020. 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 on Nov. 18.

The notes (Cusip: 06746XAL7) are expected to settle on May 18.

Barclays is the agent.

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