New Issue: Barclays sells $1 million fixed-to-floaters on ICE swap rate

By Marisa Wong

Morgantown, W.Va., April 1 – Barclays Bank plc priced $1 million of fixed- to floating-rate notes due March 14, 2029 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 5% for the first year. Beginning March 14, 2021, the interest rate will be equal to the 10-year swap rate plus a spread of 25 basis points, subject to a floor of zero. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Fixed-to-floating notes
Underlying rate:	10-year U.S. dollar ICE swap rate
Amount:	$1 million
Maturity:	March 14, 2029
Coupon:	5% for the first year; beginning March 14, 2021, equal 10-year swap rate plus 25 bps, subject to a floor of 0%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 11
Settlement date:	March 14
Underwriter:	Barclays
Fees:	1.65%
Cusip:	06747MJP2

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