Barclays PLC priced a $2.5 billion Additional Tier 1 bond.

The notes were sold at par, Cbonds reported. The perpetual notes carry a fixed coupon of 7.75% until August 2023, and thereafter will pay a floating-rate coupon equivalent to the relevant midswap rate plus 4.84%, according to Investopoli.

Barclays also served as book runner on the deal, according to Cbonds.