Published on 6/25/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $3.62 million capped, floored fixed-to-floaters due 2019
By Marisa Wong
Madison, Wis., June 25 – Barclays Bank plc priced $3.62 million of capped and floored fixed-to-floating notes due June 27, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 1.5% for the first three years. After that, the interest rate will be Libor plus 50 basis points, subject to a minimum rate of 1.5% and a maximum rate of 5% per year. Interest is payable quarterly.
The payout at maturity will be par.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Capped & floored fixed-to-floating notes
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Amount: | $3,616,000
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Maturity: | June 27, 2019
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Coupon: | 1.5% initially; beginning June 27, 2017, Libor plus 50 bps, subject to minimum interest rate of 1.5% and a maximum rate of 5% per year; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | June 24
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Settlement date: | June 27
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06741UER1
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