Published on 5/28/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $929,000 callable notes linked to ICE swap rates
By Angela McDaniels
Tacoma, Wash., May 28 – Barclays Bank plc priced $929,000 of callable floating-rate notes due May 29, 2029 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 7.2 times the spread of the 30-year ICE swap rate over the two-year ICE swap rate, subject to a minimum of zero. Interest is payable quarterly.
The payout at maturity will be par.
Beginning May 29, 2024, the notes will be callable at par plus accrued interest on any quarterly redemption date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable floating-rate notes
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Underlying rates: | 30-year and two-year U.S. dollar ICE swap rates
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Amount: | $929,000
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Maturity: | May 29, 2029
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Coupon: | 7.2 times spread of 30-year ICE swap rate over two-year ICE swap rate, subject to minimum of zero; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | Beginning May 29, 2024, at par on any interest payment date
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Pricing date: | May 23
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Settlement date: | May 29
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 06747MVL7
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