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Barclays plans fixed-to-floaters due 2023 on 10-year ICE swap rate
By Sarah Lizee
Olympia, Wash., April 30 – Barclays Bank plc plans to price fixed-to-floating notes due May 24, 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 3.75% initially. Beginning May 24, 2020, 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.
The notes will settle on May 24.
The Cusip number is 06746XAN3.
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