| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Barclays plans 20-year callable range accrual notes linked to S&P 500
By Susanna Moon
Chicago, Feb. 9 - Barclays Bank plc plans to price fixed-rate callable range accrual notes due Feb. 28, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6.75% for the first four years. After that, the coupon will accrue at a per-year rate on each day that the index closes at or above 1,000. Interest is payable quarterly and cannot be less than zero. The rate will be 7.75% beginning Feb. 28, 2015, 9% beginning Feb. 28, 2019, 10% beginning Feb. 28, 2023 and 12% beginning Feb. 28, 2027.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning June 4, 2015.
The notes (Cusip 06741JBW8) will price on Feb. 23 and settle on Feb. 28.
Barclays Capital Inc. is the agent.
© 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.