Barclays in $750 Million Tap Issuance

March 28, 2019

Cleary represented Barclays PLC (Barclays) in a SEC-registered offering of $750 million senior notes to be consolidated and form a single series with the existing $1.75 billion 4.61% fixed-to-floating-rate senior notes due 2023.

The offering, a takedown from Barclays’ shelf registration statement, closed on March 28, 2019.

The notes have the same terms (other than, inter alia, the public offering price and the issuance date) as the original notes. The notes bear fixed interest at a rate of 4.61% until February 15, 2022, and, thereafter, floating interest based on three-month U.S. dollar LIBOR. The interest on the notes will reset quarterly from, and including, February 15, 2022. The notes are subject to redemption at Barclays’ discretion upon the occurrence of certain regulatory and tax events.

The notes are listed on the New York Stock Exchange.

Barclays is a British multinational investment bank and financial services company, headquartered in London.