By Cristal Cody
Chicago, Nov. 17 – Barclays plc sold $4 billion of fixed-rate resetting senior callable notes in three tranches on Wednesday, according to a 424B2 filed with the Securities and Exchange Commission and more details from a market source.
The bank priced $1.75 billion of six-year notes. The coupon starts at 2.279%, pricing at to 105 basis points over Treasuries, 20 bps low to talk in the 125 bps area.
Also part of the deal was a tranche of $1.25 billion of 11-year notes. The starting rate is 2.894%, for a spread of Treasuries plus 130 bps, 20 bps low to talk in the 150 bps area.
Barclays also sold $1 billion of 21-year notes. The starting 3.33% coupon rate represents a spread of 130 bps over Treasuries, 20 bps low to talk in the 150 bps area.
All three tranches have make-whole calls that begin six months after issuance before becoming callable at par one year before maturity.
Barclays is the bookrunner.
Proceeds will be used for general corporate purposes.
The investment bank and financial services company is based in London.
| Issuer: | Barclays plc
|
| Amount: | $4 billion
|
| Issue: | Fixed-rate resetting senior callable notes
|
| Bookrunner: | Barclays
|
| Trade date: | Nov. 17
|
| Distribution: | SEC registered
|
|
|
| Six-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | Nov. 24, 2027
|
| Coupon: | 2.279% initial rate
|
| Spread: | Treasuries plus 105 bps
|
| Call features: | Make-whole call beginning six months after issuance; par call one year before maturity
|
| Price talk: | Treasuries plus 125 bps area
|
|
|
| 11-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Nov. 24, 2032
|
| Coupon: | 2.894%
|
| Spread: | Treasuries plus 130 bps
|
| Call features: | Make-whole call beginning six months after issuance; par call one year before maturity
|
| Price talk: | Treasuries plus 150 bps area
|
|
|
| 21-year notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 24, 2042
|
| Coupon: | 3.33%
|
| Spread: | Treasuries plus 130 bps
|
| Call features: | Make-whole call beginning six months after issuance; par call one year before maturity
|
| Price talk: | Treasuries plus 150 bps area
|
|
|
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