Barclays (NYSE: BCS) to redeem $1.45B fixed and $300M floating notes
Rhea-AI Filing Summary
Barclays PLC has elected to redeem in full its $1,450,000,000 6.496% Fixed-to-Floating Rate Senior Callable Notes due 2027 and $300,000,000 Floating Rate Senior Callable Notes due 2027 under its senior debt securities indenture.
The outstanding notes will be redeemed on September 13, 2026, at 100% of principal plus accrued but unpaid interest from March 13, 2026 for the fixed-to-floating notes and from June 15, 2026 for the floating notes to, but excluding, that par redemption date. Because this date is not a business day, payment of the redemption price will be made on September 14, 2026, and the New York Stock Exchange listing for the notes will be cancelled on or shortly after that date.
Barclays will deposit with the trustee or a paying agent funds sufficient to pay the total redemption price. From the par redemption date, interest will cease to accrue, the notes will no longer be outstanding, and holders’ rights will be limited to receiving the redemption price without further interest.
Positive
- None.
Negative
- None.
Key Figures
Fixed-to-floating notes principal: $1,450,000,000
Fixed-to-floating coupon rate: 6.496%
Floating notes principal: $300,000,000
+5 more
8 metrics
Fixed-to-floating notes principal
$1,450,000,000
Principal amount of 6.496% Fixed-to-Floating Rate Senior Callable Notes due 2027
Fixed-to-floating coupon rate
6.496%
Coupon on Fixed-to-Floating Rate Senior Callable Notes due 2027
Floating notes principal
$300,000,000
Principal amount of Floating Rate Senior Callable Notes due 2027
Par Redemption Date
September 13, 2026
Contractual par redemption date for both note series
Redemption payment date
September 14, 2026
Next business day when the Redemption Price will be paid
Redemption price
100% of principal amount
Notes redeemed at par plus accrued but unpaid interest
Fixed notes interest accrual start
March 13, 2026
Start date for interest accrual used in redemption calculation
Floating notes interest accrual start
June 15, 2026
Start date for interest accrual on Floating Rate Notes for redemption
Key Terms
Fixed-to-Floating Rate Senior Callable Notes, Floating Rate Senior Callable Notes, Notice of Redemption, Redemption Price, +2 more
6 terms
Fixed-to-Floating Rate Senior Callable Notes financial
"Barclays PLC’s $1,450,000,000 6.496% Fixed-to-Floating Rate Senior Callable Notes due 2027"
Floating Rate Senior Callable Notes financial
"$300,000,000 Floating Rate Senior Callable Notes due 2027"
Notice of Redemption financial
"This notice (the “Notice of Redemption”) is in relation to Barclays PLC’s"
A notice of redemption is a formal announcement from a bond or preferred-stock issuer that it will repay and retire those securities on a specified date and at a specified price, telling holders which issues will be called and when. It matters to investors because it changes the timing and amount of expected cash flows—like a store buying back a gift card early, you get your money sooner but may lose future income and must find a new place to reinvest.
Redemption Price financial
"to, but excluding, the Par Redemption Date (the “Redemption Price”)."
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.
Senior Debt Securities Indenture financial
"pursuant to the Senior Debt Securities Indenture (the “Base Indenture”)"
Paying Agent financial
"the Company will irrevocably deposit with the Trustee or with a Paying Agent"
A paying agent is a bank or company that helps deliver payments, like interest or dividends, to investors. It’s like a trusted middleman who makes sure everyone gets their money on time, so investors don’t have to handle the details themselves.
FAQ
What did Barclays PLC (BCS) announce about its 2027 senior notes?
Barclays PLC is redeeming in full $1,450,000,000 6.496% fixed-to-floating and $300,000,000 floating rate senior callable notes due 2027. The redemption follows the terms of its senior debt securities indenture and will be carried out at par plus accrued but unpaid interest.
When will the BCS 2027 senior notes be redeemed and paid?
The notes will be redeemed on September 13, 2026, the par redemption date, with payment made on September 14, 2026. The date shift reflects that September 13, 2026 is not a business day, so settlement occurs on the next business day.
At what price will Barclays (BCS) redeem its 2027 senior notes?
Barclays will redeem both note series at 100% of their principal amount plus accrued but unpaid interest. Interest runs from March 13, 2026 for the fixed-to-floating notes and from June 15, 2026 for the floating notes to, but excluding, the par redemption date.
How will the BCS notes’ NYSE listing be affected by the redemption?
The New York Stock Exchange listing for the redeemed notes will be cancelled on or shortly after September 14, 2026. Once the redemption is funded and completed, the notes will no longer be outstanding or trade on the NYSE.
From which dates will interest accrue on the Barclays (BCS) notes until redemption?
Interest for the fixed-to-floating notes will accrue from March 13, 2026, and for the floating rate notes from June 15, 2026. In each case, interest runs to, but excluding, the September 13, 2026 par redemption date, after which interest stops.
What happens to BCS noteholders’ rights after Barclays funds the redemption?
Once Barclays deposits enough money with the trustee or a paying agent to cover the total redemption price, interest on the notes ceases. The notes are no longer outstanding, and holders’ remaining right is only to receive the redemption price, without further interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
