Published on 4/25/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $24.21 million step-up callable notes with 3.5% initial rate
By Marisa Wong
Morgantown, W.Va., April 25 – Barclays Bank plc priced $24.21 million of step-up fixed-rate callable notes due April 26, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.5% initially, stepping up to 5.25% on April 26, 2025. Interest is payable semiannually.
The payout at maturity will be par.
Beginning April 26, 2020, the notes will be callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Step-up fixed-rate callable notes
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| Amount: | $24,213,000
|
| Maturity: | April 26, 2029
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| Coupon: | 3.5% initially, stepping up to 5.25% on April 26, 2025; payable semiannually
|
| Price: | Par
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| Payout at maturity: | Par
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| Call option: | Beginning April 26, 2020, at par on any interest payment date
|
| Pricing date: | April 23
|
| Settlement date: | April 26
|
| Agent: | Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06747MNW2
|
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