By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Barclays Bank plc priced $20.7 million of capped callable floating-rate notes due Aug. 27, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 5.5% for the first year and will then be equal to 5.6 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% and a cap of 6%. 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
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| Amount: | $20.7 million
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| Maturity: | Aug. 27, 2036
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| Coupon: | 5.5% for the first year; then 5.6 times the spread of the 30-year ICE swap rate minus the five-year ICE swap rate, floor of 0% and cap of 6%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Call: | At par plus accrued interest on any quarterly interest payment date beginning Aug. 27, 2022
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| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 27
|
| Agent: | Barclays
|
| Fees: | 2%
|
| Cusip: | 06748WCU5
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