New Issue: Barclays sells $28.62 million fixed-to-floaters due 2021 tied to Libor

By Marisa Wong

Morgantown, W.Va., May 22 – Barclays Bank plc priced $28.62 million of fixed-to-floating notes due Nov. 3, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% initially. Beginning Nov. 3, 2020, interest will be equal to Libor plus 15 basis points, subject to a maximum interest rate of 4% and a minimum rate of 0%. 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
Amount:	$28,619,000
Maturity:	Nov. 3, 2021
Coupon:	3% initially; beginning Nov. 3, 2020, Libor plus 15 bps, subject to a floor of 0% and a cap of 4%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	April 30
Settlement date:	May 3
Underwriter:	Barclays
Fees:	0.5%
Cusip:	06747MPH3

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