Barclays to price floating-to-fixed notes due 2023 linked to Libor

By Sarah Lizee

Olympia, Wash., May 24 – Barclays Bank plc plans to price floating-to-fixed notes due May 31, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Initially, interest will be equal to Libor plus a spread of 45 basis points per annum, subject to a minimum interest rate of 0%. Beginning Nov. 30, 2020, the interest rate will be fixed at 4%. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the agent.

The notes will price on May 29 and settle on May 31.

The Cusip number is 06746XD75.

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