Barclays gives pricing details for dollar tier 1 notes redemption

Chicago, June 7 – Barclays plc provided some more pricing details for its upcoming June 15 redemption of its 6.86% callable perpetual core tier 1 notes (ISINs: XS0155141830, US06738CAG42) in a 6-K filed with the Securities and Exchange Commission.

The redemption price will be calculated at 11 a.m. ET three days before the redemption date.

Pricing will take into account the middle market price of the reference bond plus 150 basis points.

The redemption is two-fold and also includes Barclays’ 6% callable perpetual core tier 1 notes (ISIN: XS0150052388).

As previously reported, there are $178.63 million of the original $1 billion outstanding for the 6.86% notes and £12,539,000 of the original £400 million of the 6% notes outstanding.

The sterling notes are being called at par.

In both cases, unpaid interest will be paid to the redemption date.

The notes no longer qualify as additional tier 1 instruments as of Jan. 1. Therefore, Barclays is exercising its right to redeem the notes.

After the notes are redeemed, they will be canceled and will no longer trade on the London Stock Exchange plc.

Barclays is a London-based multinational investment bank and financial services company.

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