Advanced Theory & Practice of Bonds

Recognized under IBF-FTS | 7-8 June 2022 | 12 CPD Hours

Comprehensive 2-day course on bonds designed for private bankers, wealth managers and advisors.

Barclays has delayed its planned share buyback after an expected  £450mn ($591mn) arising out of an error while issuing securities. Barclays mistakenly issued ~$15bn more structured notes and exchange traded notes (ETNs) from the time it did a shelf registration for the sale of these securities in 2019. Barclays will now have to repurchase the securities via a rescission offer at the original price. Barclays said it was investigating the cause. “This kind of seemingly basic error may shake confidence in the investment bank going forward,” said Fahed Kunwar, an analyst at Redburn. With the latest hit, its share buyback is set to take place in Q2 from the initially envisaged Q1.

Barclays’ dollar bonds were stable with its 4.375% Perp at 87.88, yielding 6.87%.

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