By William Gullotti
Buffalo, N.Y., July 27 – Barclays Bank plc priced $2 million of capped callable floating-rate notes due June 3, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is equal to six times the spread of the 30-year U.S. dollar ICE swap rate minus the five-year U.S. dollar ICE swap rate, subject to a floor of 0%. The interest rate is capped at 6.25% until June 3, 2026, increasing to 7% until maturity. Interest is payable quarterly.
The notes are callable at par plus accrued interest on any quarterly interest payment date after one year.
The payout at maturity will be par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped callable floating-rate notes
|
| Amount: | $2 million
|
| Maturity: | June 3, 2036
|
| Coupon: | Six times the spread of the 30-year ICE swap rate minus the five-year ICE swap rate, floor of 0%; maximum interest rate is 6.25% until June 3, 2026, then 7% until maturity; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par plus accrued interest on any quarterly interest payment date beginning June 3, 2022
|
| Pricing date: | May 28
|
| Settlement date: | June 3
|
| Agent: | Barclays
|
| Fees: | 3%
|
| Cusip: | 06748ESX2
|
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