Published on 4/29/2023 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $547,000 floating rate notes on SOFR ICE Swap rate
By Kiku Steinfeld
Chicago, May 1 – Barclays Bank plc priced $547,000 of floating rate notes due Dec. 30, 2027 linked to the five-year U.S. Dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at a rate equal to the five-year U.S. Dollar SOFR ICE swap rate plus a spread of 150 basis points, subject to a floor of 0%.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Floating rate notes
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Underlying rate: | Five-year U.S. Dollar SOFR ICE swap rate
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Amount: | $547,000
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Maturity: | Dec. 30, 2027
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Coupon: | Five-year U.S. Dollar SOFR ICE swap rate plus a spread of 150 basis points, subject to a floor of 0%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Dec. 28, 2022
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Settlement date: | Dec. 30, 2022
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06749NE99
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