Published on 10/29/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $530,000 fixed-to-floating notes due 2018
By Angela McDaniels
Tacoma, Wash., Oct. 29 - Barclays Bank plc priced $530,000 of capped fixed-to-floating-rate notes due Oct. 31, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% for the first two years. Beginning Oct. 31, 2015, the interest rate will be Libor plus 40 basis points, subject to a minimum of zero and a maximum rate of 4% per year. Interest is payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Capped fixed-to-floating-rate notes
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Amount: | $530,000
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Maturity: | Oct. 31, 2018
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Coupon: | 2% for first year; beginning Oct. 31, 2015, Libor plus 40 bps, subject to minimum of zero and maximum of 4%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Oct. 28
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Settlement date: | Oct. 31
|
Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06741TT80
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