Barclays redeems in full $5 million CMS steepener notes due 2021

By Marisa Wong

Madison, Wis., Aug. 22 - Barclays Bank plc said it redeemed all $5 million of its outstanding callable CMS steepener range accrual notes with S&P 500 index-linked barrier due Feb. 17, 2021.

The notes (Cusip: 06741JCE7) were redeemed on Aug. 17 at par plus accrued interest.

Interest on the notes accrued at four times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a maximum rate of 8%, for each day that the S&P 500 closed at or above 875.

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