Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.36 million step-up callable notes with 3% initial rate
By Angela McDaniels
Tacoma, Wash., June 27 – Barclays Bank plc priced $6.36 million of step-up fixed-rate callable notes due June 28, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% in years one through three, 3.25% in years four through six and 4% in years seven and eight. Interest is payable semiannually.
The payout at maturity will be par.
Beginning June 28, 2020, the notes will be callable at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Step-up fixed-rate callable notes
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Amount: | $6,362,000
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Maturity: | June 28, 2027
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Coupon: | 3% in years one through three, 3.25% in years four through six and 4% in years seven and eight; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | Beginning June 28, 2020, notes will be callable at par on any interest payment date
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06747MZE9
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