By Marisa Wong
Madison, Wis., Aug. 28 – Barclays Bank plc priced an additional $5 million of capped leveraged steepener notes due Aug. 28, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total size of the issue to $15 million. The initial $10 million of notes priced on Aug. 1.
Interest will be fixed at 8% for the first year. After that, the rate will accrue at (i) 4 times (ii) the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate minus 25 basis points, up to a maximum rate of 8%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Capped leveraged steepener notes
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| Underlyings: | 30-year Constant Maturity Swap rate, five-year CMS rate
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| Amount: | $15 million (up from $10 million)
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| Maturity: | Aug. 28, 2029
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| Coupon: | 8% for one year; then (i) 4 times (ii) spread of 30-year CMS rate over five-year CMS rate minus 25 bps, capped at 8%, floor of zero; payable quarterly
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| Price: | Variable
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| Payout at maturity: | Par
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| Call option: | At par on interest payment dates beginning Aug. 28, 2015
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| Pricing date: | Aug. 1 for $10 million, Aug. 26 for $5 million
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| Settlement date: | Aug. 29
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| Agent: | Barclays
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| Fees: | 3.5%
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| Cusip: | 06741UGX6
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