New Issue: Barclays prices $2.49 million fixed-to-floaters tied to ICE swap rate

By Sarah Lizee

Olympia, Wash., April 23 – Barclays Bank plc priced $2.49 million of fixed-to-floating notes due April 25, 2028 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 4.8% initially. Beginning April 25, 2021, 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:	$2.49 million
Maturity:	April 25, 2028
Coupon:	4.8% initially; beginning April 25, 2021, 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 19
Settlement date:	April 25
Underwriter:	Barclays
Fees:	1%
Cusip:	06746X6A6

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