By Marisa Wong
Madison, Wis., Jan. 26 - Barclays Bank plc priced an additional $15 million of callable CMS steepener notes due Jan. 27, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $17 million. The initial $2 million of callable CMS steepener notes priced on Dec. 30.
The coupon will accrue at 11% for the first year. After that, the rate will be 4.5 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 50 basis points, up to a maximum rate of 11%. Interest is payable semiannually 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 Jan. 27, 2011.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Callable CMS steepener notes
|
Amount: | $17 million, increased from $2 million
|
Maturity: | Jan. 27, 2031
|
Coupon: | 11% for one year; then 4.5 times spread of 30-year CMS rate over two-year CMS rate less 50 bps, capped at 11%, floor of zero; payable semiannually
|
Price: | Variable
|
Payout at maturity: | Par
|
Call option: | At par on interest payment dates after one year
|
Pricing date: | Dec. 30 for $2 million, Jan. 26 for $15 million
|
Settlement date: | Jan. 27
|
Agent: | Barclays Capital Inc.
|
Fees: | 5%
|
Cusip: | 06740PZ33
|
© 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.