By Susanna Moon
Chicago, May 30 - Barclays Bank plc priced $5 million of capped callable CMS steepener notes due June 17, 2033, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 9.25% for the first year. After that, the rate will be four times the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate minus 25 basis points, up to a maximum rate of 9.25%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped callable CMS steepener notes
|
| Amount: | $5 million
|
| Maturity: | June 17, 2033
|
| Coupon: | 9.25% for one year; then four times spread of 30-year CMS rate over five-year CMS rate less 25 bps, capped at 9.25%, floor of zero; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning on June 17, 2014
|
| Pricing date: | May 29
|
| Settlement date: | June 17
|
| Agents: | Barclays
|
| Fees: | 4.5%
|
| Cusip: | 06741TWH6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
