By Marisa Wong
Madison, Wis., Sept. 24 - Barclays Bank plc priced $10 million of callable range accrual notes due Sept. 30, 2025 linked to six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually and equals the applicable rate multiplied by the proportion of days on which six-month Libor is at or below the barrier. The applicable rate is equal to the barrier, which is fixed at 5% for the first three years, 5.25% for years four through six, 5.5% for years seven through nine, 5.75% for years 10 through 12 and 6% from year 13 to maturity.
The payout at maturity will be par.
The notes are callable at par on any interest payment date after one year.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Amount: | $10 million
|
| Maturity: | Sept. 30, 2025
|
| Coupon: | Applicable rate multiplied by proportion of days on which six-month Libor is at or below barrier; applicable rate and barrier each equal 5% for first three years, 5.25% for years four through six, 5.5% for years seven through nine, 5.75% for years 10 through 12 and 6% from year 13 to maturity; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 30
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06740PVC7
|
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