Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Barclays Blunder Gives Some Burned Peloton Holders 1,200% Boost

Aug. 1, 2022, 3:34 PM

Barclays Plc’s blunder with US structured notes is giving investors a way out of bets gone horribly wrong.

The bank revealed on Monday the list of securities it will buy back at their original price, as required by regulators due to a paperwork error. Barclays’ $17.6 billion program is set to effectively rescue many bondholders from the market plunges of the past year.

One of the most extreme examples is a $1.8 million note tied to Peloton Interactive Inc., whose shares have cratered since its pandemic heyday, bringing the note’s market value to just under 8 cents ...