Barclays Sets $17.6B Buyback Of Securities Sold In Error
By Dawood Fakhir (July 25, 2022, 6:11 PM BST) -- Barclays Bank PLC on Monday said it will buy back $17.6 billion of securities it issued in error over 30 business days starting Aug. 1, committing to refund a greater amount than it originally estimated.
The securities include about $14.8 billion of structured notes and $2.8 billion of exchange-traded notes, Barclays noted.
The U.K.-bank had disclosed in March that it over-issued $15.2 billion worth of structured financial products registered with the U.S. Securities and Exchange Commission when it was registered to sell only up to $20.8 billion of securities in the U.S.
Counsel information for the buyback program was not immediately available....
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