Barclays prices tender offer for 4.375% notes due 2024

By Wendy Van Sickle

Columbus, Ohio, Dec. 15 – Barclays plc announced pricing of its cash tender offer for any and all of its $1.25 billion outstanding 4.375% subordinated notes due 2024 (Cusip: 06738EAC9), according to a Friday press release.

The purchase price will be $994.59 per $1,000 principal amount, which was calculated using the 0.375% U.S. Treasury due Sept. 15, 2024 and a fixed spread of 0 basis points.

The issuer will also pay accrued interest.

Pricing was set at 2 p.m. ET on Dec. 15.

Tenders could be revoked at any time prior to the expiration deadline at 5 p.m. ET on Dec. 15.

Results will be announced on Dec. 18.

The deadline for tenders under guaranteed delivery procedures is at 5 p.m. ET on Dec. 19.

Settlement is slated for Dec. 20.

The offer was announced on Dec. 11.

The issuer said it reserves the right to not accept any tender instructions or to terminate or amend the offer in any way.

The issuer said it is making the offer as part of its ongoing management of its liabilities.

The offer is not conditioned on any future capital markets issuance.

Barclays (212 528-7581, 800 438-3242; us.lm@barclays.com) is the dealer manager. Global Bondholder Services Corp. (212 430-3774, 855 654-2014; fax 212 430-3775; contact@gbsc-usa.com) is the tender agent.

The bank is based in London.

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