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Barclays to Buy Back Up to $18 Billion of Wrongly Sold Notes (2)

July 25, 2022, 3:27 PM

Barclays Plc will start to buy back as much as $17.6 billion of securities, a process that should determine its losses from a paperwork blunder that saw it accidentally sell more structured and exchange-traded notes than it had registered.

The bank said the repurchase period will start on Aug. 1 and will expire on Sept. 12, according to a statement Monday. Barclays separatelysaid it plans to resume the issuance and sales of some iPath exchange-traded notes, which had been suspended in April.

In March, the bank said it had issued billions more securities than it had registered with the ...