Barclays plans to price offering of fixed-to-floating notes

By Devika Patel

Knoxville, Tenn., June 13 – Barclays plc intends to sell dollar-denominated fixed-to-floating rate subordinated notes, according to a 424B2 filed with the Securities and Exchange Commission.

Interest will accrue at a fixed rate until one year prior to maturity and then at a rate based on Libor.

The notes are non-callable until one year prior to maturity and then are callable at par on that date.

Barclays is the bookrunner.

Proceeds will be used for general corporate purposes.

The financial services company is based in London.

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