It's fine. You'll have a small scar there that will heal up and callus over. Gotta say though, I think you've too much wire on it, and too large a gauge for the size of branch/trunk. Don't unwind, though. You'll likely do more damage if you do.
Leave it be and let it grow. If the tree swells enough where the wire starts to bite into it, use cutters to remove (i.e., don't unwind). It may stay in place. It may not. You can always wire it again later.
Good luck