Barclays to price fixed-to-floaters due 2023 on 10-year ICE swap rate

By Sarah Lizee

Olympia, Wash., June 12 – Barclays Bank plc plans to price fixed-to-floating notes due June 29, 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% initially. Beginning June 29, 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 June 29.

The Cusip number is 06746XFE8.

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