By Kiku Steinfeld
Chicago, Oct. 10 – Barclays Bank plc priced $672,000 of capped fixed-to-floating-rate notes due Feb. 22, 2027 linked to compounded SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
For the first year, the interest rate will be 3%, payable quarterly.
After that, interest will be determined and paid quarterly. The interest rate will be based on daily compounded SOFR plus a 35 basis points spread, with a 0.1% floor and a 3% cap.
The payout at maturity will be par.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped fixed- to floating-rate notes
|
| Underlying rate: | SOFR
|
| Amount: | $672,000
|
| Maturity: | Feb. 22, 2027
|
| Coupon: | 3% for first year; after that, daily compounded SOFR plus 35 bps with a 0.1% floor and a 3% cap; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 22
|
| Agent: | Barclays
|
| Fees: | 0.85%
|
| Cusip: | 06748XDE8
|
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