New Issue: Barclays prices $542,000 fixed-to-floaters linked to compounded SOFR

Chicago, No 30 – Barclays Bank plc priced $542,000 of fixed-to-floating-rate notes due Oct. 28, 2024 linked to compounded SOFR, according to a 424B2 filing with the Securities and Exchange Commission.

For the first year, the interest rate will be 5.5%, payable quarterly.

After that, interest will be determined and paid quarterly. The interest rate will be based on daily compounded SOFR plus a 100 basis points spread, with a 2% floor.

The payout at maturity will be par.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Fixed- to floating-rate notes
Underlying rate:	SOFR
Amount:	$542,000
Maturity:	Oct. 28, 2024
Coupon:	5.5% for first year; after that, daily compounded SOFR plus 100 bps with 2% floor; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Oct. 26
Settlement date:	Oct. 28
Agent:	Barclays
Fees:	0.45%
Cusip:	06748XXR7

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