New Issue: Barclays prices $1 million fixed-to-floaters on 10-year ICE swap rate

By Sarah Lizee

Olympia, Wash., April 18 – Barclays Bank plc priced $1 million of fixed-to-floating notes due April 20, 2023 tied to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 4% for the first year. After that, the interest rate will be equal to the 10-year swap rate, subject to the minimum interest 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
Underlying rate:	10-year U.S. dollar ICE swap rate
Amount:	$1 million
Maturity:	April 20, 2023
Coupon:	4% initially; beginning April 20, 2019, equal to the 10-year swap rate, subject to a 0% floor; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	Non-callable
Pricing date:	April 16
Settlement date:	April 20
Underwriter:	Barclays
Fees:	1%
Cusip:	06746X2T9

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