Barclays to price capped fixed-to-floaters due 2021 linked to Libor

By Sarah Lizee

Olympia, Wash., April 16 – Barclays Bank plc plans to price capped fixed-to-floating notes due Nov. 3, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% initially. Beginning Nov. 3, 2020, interest will be equal to Libor plus 15 basis points, subject to a minimum interest rate of 0% and a maximum interest rate of 4%. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the agent.

The notes will price on April 30.

The Cusip number is 06747MPH3.

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