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Barclays plans step-up fixed-rate callable notes with 3% initial rate
By Sarah Lizee
Olympia, Wash., March 7 – Barclays Bank plc plans to price step-up fixed-rate callable notes due March 26, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 4% on March 26, 2021, to 5% on March 26, 2022 and to 6% on March 26, 2023. 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 March 26, 2020.
Barclays is the agent.
The notes (Cusip: 06747MHV1) are expected to price on March 21.
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