Published on 11/29/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $9.13 million 10-year fixed-to-floating notes on CPI
By Susanna Moon
Chicago, Nov. 29 - Barclays Bank plc priced $9.13 million of fixed-to-floating notes due Nov. 30, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first two years. After that, the rate will be linked to the Consumer Price Index plus 100 basis points, subject to a minimum rate of 1% and a maximum rate of 7%. Interest is payable monthly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Fixed-to-floating notes
|
Amount: | $9,127,000
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Maturity: | Nov. 30, 2020
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Coupon: | 4% for two years; thereafter, Consumer Price Index plus 100 bps; floor of 1% and cap of 7%; payable monthly
|
Price: | Variable
|
Payout at maturity: | Par
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
|
Agent: | Barclays Capital Inc.
|
Fees: | 1.5%
|
Cusip: | 06740PM37
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