Published on 6/8/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $115,000 step-up notes with 3.75% initial rate
By Toni Weeks
San Diego, June 8 - Barclays Bank plc priced $115,000 of step-up fixed-rate notes due June 9, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.75% for the first five years. It will step up to 4.25% on June 9, 2016, to 4.5% on June 9, 2021, to 5.25% on June 9, 2026 and to 6% on June 9, 2029. Interest is payable semiannually.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Step-up fixed-rate notes
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Amount: | $115,000
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Maturity: | June 9, 2031
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Coupon: | 3.75% initially, stepping up to 4.25% on June 9, 2016, to 4.5% on June 9, 2021, to 5.25% on June 9, 2026 and to 6% on June 9, 2029; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | June 6
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Settlement date: | June 9
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Agent: | Barclays Capital Inc.
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Fees: | 2.4%
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Cusip: | 06738JR97
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