By Susanna Moon
Chicago, Dec. 16 - Barclays Bank plc priced $5.25 million of fixed-to-floating notes due Jan. 14, 2021 based on the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 6% for the first two years. After that, the rate will be equal to the year-over-year change in the Consumer Price Index plus 200 basis points, subject to a maximum coupon of 8% and a floor of zero. 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
|
| Underlying index: | Consumer Price Index
|
| Amount: | $5.25 million
|
| Maturity: | Jan. 14, 2021
|
| Coupon: | 6% until Jan. 14, 2012; thereafter, year-over-year change in CPI plus 200 bps, with cap of 8% and floor of zero; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | Dec. 16
|
| Settlement date: | Jan. 14
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06040PYG5
|
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