Australian Bond Exchange

Fixed Rate Market Linked Product

You can now invest in a new Australian dollar, fixed coupon, credit-linked security over Barclays PLC yielding a [6.00% to 6.50%] per annum return.

Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services listed on the London Stock Exchange (ticker: BARC) with a market capitalisation of £23.2 billion.

Barclays Bank PLC provides banking and financial services. The Bank offers personal, retail, and corporate banking, as well as wealth management, investment banking, consumer finance, treasury, and insurance services. Barclays Bank serves clients worldwide.

Barclays Bank PLC is the unlisted flagship subsidiary of global financial group Barclays PLC.

Key Information

Investment Details:

  • Issuer: C2 Specialist Investment Pty Ltd
  • Coupon Rate: [6.00% to 6.50%] per annum paid quarterly
  • 5-year Deferred Purchase Agreement (DPA) (maturity 20 December 2028)
  • Issue Price: $100
  • ABE Code: [C2BF065028]
  • Minimum Investment: AUD10,000
  • Currency: The note is denominated in AUD. All Coupons and any Final Value is delivered in Australian dollars.


Barclays Bank PLC Reference Asset:

  • Barclays Bank PLC EUR 5-year subordinated generic Credit Default Swap (CDS) contract
  • Bloomberg Name: BARCLAY CDS EUR SUB 5Y D14
  • Standard Reference Obligation: Barclay’s Bank PLC 4.375% pa bond maturing 11 September 2024 (or equivalent successor ranked pari passu)
  • Bloomberg Name: BACR 4 ⅜ 09/11/24
  • Bloomberg ISIN: US06738EAC93
  • Bond Rating: BBB- (S&P) / Baa1 (Moody’s) / BBB+ (Fitch)
  • Debt Type: Subordinated.



The risks listed below are not all of the risks associated with the activities of an investment in a Market Linked Product. For a comprehensive description of the risks, please refer to the Key Risks section of the Product Disclosure Statement (PDS).

Credit Risk: Defaults on the underlying security may result in a loss of principal invested and/or interest due under those bonds and the underlying CDS contracts (Credit Event).  In addition, investors also bear credit risk with respect to the Issuer.  If the Issuer fails to perform its obligations under the DPA (or is unable to perform its obligations for any reason), there may be an adverse impact on your investment even if no Credit Event has occurred. 

This risk is mitigated by:

  • the size and global reach of the underlying security;
  • the use of Tier One International banking partner.

Bond and CDS Market Risk: A material decline in the value of Barclays PLC brand in relevant market segments will erode the value of the Notes and the underlying CDS contracts.

This risk is mitigated by:

  • the factors referred to under ‘Credit Risk’ above;

Liquidity risk. You may not be able to realise your investment when you want to. The Issuer Buy-Back facility is at the discretion of the Issuer. Issuer Buy-Back requests are determined at the Issuer’s discretion.

This risk is mitigated by:

  • the Australian Bond Exchange will facilitate the secondary market to enhance liquidity.

Disclaimer: The information and any advice provided in this webpage has been prepared without considering your objectives, financial situation or needs.  Because of that, you should, before acting on the advice, consider the appropriateness of the advice, having regard to those things. You should obtain the relevant appropriate product disclosure document for any statement for the product mentioned and consider its contents before making any decision. The C2 Market Linked Products Series 2023/7 – Barclays PLC is subject to investment risk, including possible delays in repayment and loss of income and capital repayment. Past performance is not an indicator of future performance.