New Issue: Barclays prices $20.2 million fixed-to-floaters on 10-year ICE swap-rate

By Sarah Lizee

Olympia, Wash., March 8 – Barclays Bank plc priced $20.2 million of fixed-to-floating notes due March 9, 2028 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 5.25% initially. Beginning March 9, 2020, interest will be equal to the 10-year ICE swap rate, subject to a minimum interest rate of 0%. Interest will be payable quarterly.

The payout at maturity will be par.

The notes are non-callable.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Fixed-to-floating notes
Underlying rate:	10-year U.S. dollar ICE swap rate
Amount:	$20.2 million
Maturity:	March 9, 2028
Coupon:	5.25% initially; beginning March 9, 2020, equal to the 10-year ICE swap rate, subject to a floor of 0%; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	Non-callable
Pricing date:	March 6
Settlement date:	March 9
Underwriter:	Barclays
Fees:	1.2%
Cusip:	06744CYW5

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