By Angela McDaniels
Tacoma, Wash., Feb. 13 - Barclays Bank plc priced $6.48 million of additional step-up callable fixed-rate dual range accrual notes due Feb. 15, 2028 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The original $1 million of notes priced Jan. 23. The total issue size is now $7.48 million.
The interest rate is the inside range rate multiplied by the proportion of days on which six-month Libor is 6% or less and the index's closing level is greater than or equal to the index barrier, 75% of the initial index level. Interest is payable quarterly.
The inside range rate is 5% in years one through five, 6% in years six through 10 and 8% in years 11 through 15.
The payout at maturity will be par.
Beginning Feb. 15, 2014, the notes will be callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Step-up callable fixed-rate dual range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $7,482,000, increased from $1 million
|
| Maturity: | Feb. 15, 2028
|
| Coupon: | Inside range rate multiplied by proportion of days on which six-month Libor is 6% or less and index closes at or above barrier level; inside range rate is 5% in years one through five, 6% in years six through 10 and 8% in years 11 through 15; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Feb. 15, 2014 onward
|
| Initial index level: | 1,494.81
|
| Barrier level: | 1,121.08, 75% of initial level
|
| Pricing date: | Jan. 23
|
| Upsized: | Feb. 12
|
| Settlement date: | Feb. 15
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06741TNC7
|
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