Barclays redeems in full $1 million CMS steepener notes due 2025

By Marisa Wong

Madison, Wis., Feb. 27 - Barclays Bank plc said it redeemed all $1 million of its outstanding callable CMS steepener notes due Feb. 25, 2025.

The notes (Cusip: 06740JVZ0) were redeemed on Feb. 27 at par plus accrued interest.

At the time of redemption, the interest rate was equal to five times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 50 basis points, or 10.07%.

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