By Marisa Wong
Madison, Wis., Sept. 26 – Barclays Bank plc priced $5 million of additional callable leveraged steepener notes due Sept. 29, 2034, according to an FWP with the Securities and Exchange Commission.
This brings the total issue size to $10 million. The initial $5 million of notes was priced on Sept. 10.
The coupon will be 9% for the first year. After that, interest will be equal to 9 times the reference rate, subject to a cap of 9% and a floor of 0%. The reference rate is the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate minus 25 basis points. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable in whole or in part on any interest payment date beginning on Sept. 29, 2015.
Barclays is the agent. Morgan Stanley & Co. LLC is a dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Callable leveraged steepener notes
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| Underlying rates: | 30-year Constant Maturity Swap and five-year CMS rate
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| Amount: | $10 million (up from $5 million)
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| Maturity: | Sept. 29, 2034
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| Coupon: | 9% for first year; after that, 9 times reference rate, subject to a cap of 9% and a floor of 0%; reference rate is spread of 30-year CMS rate over five-year CMS rate minus 25 bps; payable quarterly
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| Price: | Variable
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| Payout at maturity: | Par
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| Call option: | In whole or in part on any interest payment date beginning on Sept. 29, 2015
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| Pricing date: | Sept. 10 for $5 million, Sept. 24 for $5 million
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| Settlement date: | Sept. 29
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| Agent: | Barclays with Morgan Stanley & Co. LLC as dealer
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| Fees: | 3.5%
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| Cusip: | 06741UJW5
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