New Issue: Barclays prices $4 million callable capped fixed-to-floaters linked to five-year U.S. dollar ICE swap rate

By Wendy Van Sickle

Columbus, Ohio, Sept. 15 – Barclays Bank plc priced $4 million of callable capped fixed- to floating-rate notes due Sept. 15, 2031, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 3% initially. Beginning Sept. 15, 2022, the interest rate will be equal to the five-year U.S. dollar ICE swap rate plus 4 basis points, capped at 4% and with a floor of 0%. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the underwriter.

Issuer:	Barclays Bank plc
Issue:	Callable capped fixed- to floating-rate notes
Underlying rate:	Five-year U.S. dollar ICE swap rate
Amount:	$4 million
Maturity:	Sept. 15, 2031
Coupon:	3% initially; beginning Sept. 15, 2022, five-year U.S. dollar ICE swap rate plus 4 bps, capped at 4% and with a floor of 0%
Price:	Par
Payout at maturity:	Par
Pricing date:	Sept. 9
Settlement date:	Sept. 15
Agent:	Barclays
Fees:	0.5%
Cusip:	06748WGC1

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