By Susanna Moon
Chicago, March 29 - Barclays Bank plc priced $1 million of callable EUR CMS steepener notes due April 28, 2026 linked to the 30-year and two-year EUR Constant Maturity Swap rates, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will accrue at 10% for the first year. After that, the rate will be seven times the spread of the 30-year EUR CMS rate over the two-year EUR CMS rate, up to a maximum rate of 10%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning April 28, 2012.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable EUR CMS steepener notes
|
| Amount: | $1 million
|
| Maturity: | April 28, 2026
|
| Coupon: | 10% for one year; then seven times spread of 30-year EUR CMS rate over two-year EUR CMS rate, capped at 10%, floor of zero; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Pricing date: | March 28
|
| Settlement date: | April 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 5%
|
| Cusip: | 06738KGB1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
