By Susanna Moon
Chicago, Feb. 23 - Barclays Bank plc priced another $7.76 million of callable CMS non-inversion notes due Feb. 25, 2026 linked to the 30-year and 10-year Constant Maturity Swap rates, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $8.76 million, up from $1 million.
The notes will bear interest at 7% per year multiplied by the proportion of days on which the spread of the 30-year CMS rate over the 10-year CMS rate is greater than 0%. Interest will be payable quarterly.
The payout at maturity will be par.
The notes are callable at par plus accrued interest on any interest payment date beginning on Feb. 25, 2012.
Barclays Capital Inc. is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable CMS non-inversion notes
|
| Amount: | $8.76 million, up from $1 million
|
| Maturity: | Feb. 25, 2026
|
| Coupon: | 7% per year multiplied by the proportion of days on which the spread of the 30-year CMS rate over the 10-year CMS rate is greater than 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning on Feb. 25, 2012
|
| Pricing date: | Jan. 25 for $1 million, Feb. 22 for $7.76 million
|
| Settlement date: | Feb. 25
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06738KAE1
|
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