Barclays to price floating-rate notes linked to ICE swap-rate spread

By Sarah Lizee

Olympia, Wash., April 23 – Barclays Bank plc plans to price floating-rate notes due April 30, 2021 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be equal to 5.75 times the spread of the 30-year swap rate minus the two-year swap rate, subject to a minimum interest rate of 2.5%. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the agent.

The notes are expected to settle on April 30.

The Cusip number is 06746X6L2.

© 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.