Bond Factsheet
BACR 8.300% Perpetual Corp (SGD)
Barclays PLC
Indicative
Full Lot
Bid Price 103.688
Change in Bid Price 0.050
Bid Yield (%) 4.284 %
Change in Bid Yield 0.041
Ask Price 104.063
Change in Ask Price 0.050
Ask Yield (%) 3.887 %
Change in Ask Yield 0.041
Indicative price as of 02 Oct 2026, 4:33pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Barclays PLC
Guarantor
-
Announcement Date
30 Jun 2022
Issue Date
06 Jul 2022
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.944
Modified Duration
0.904 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
8.300
Coupon Type
Variable
Annual Coupon Rate
8.300
Coupon Frequency
Quarterly
Seniority
Junior Subordinated
Capital Structure
Additional Tier 1
Reference Rate
Reset Date: 15 Dec 2027 and every 5 years thereafter
Reset Rate: 5-year SORA-OIS + the Margin (5.641%)
ISIN
XS2498454342
CUSIP
BX5360462
Bond Currency
SGD
Total Issue Size
450,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ A
Bond Credit Rating (S&P/ Fitch)
***/ BBB-
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Capital Adequacy Trigger:
A “Capital Adequacy Trigger Event” shall occur if at any time the fully loaded CET1 Ratio (as defined in the Offering Circular) is less than 7.00%. Whether a Capital Adequacy Trigger Event has occurred at any time shall be determined by the Issuer and such determination shall be binding on the Trustee and the Holders.
Automatic conversion upon Trigger Event:
If a Capital Adequacy Trigger Event occurs, an Automatic Conversion of the Securities will occur on the Conversion Date, at which point all of the Issuer’s obligations under the Securities (other than the CSO obligations, if any) shall be irrevocably and automatically released in consideration of the Issuer’s issuance of Conversion Shares to the Conversion Shares Depository at a conversion price of SGD [TBD], subject to certain anti-dilution adjustments (as described in the Offering Circular).
Conversion Shares Offer:
Not later than 10 business days following the Conversion Date, the Issuer may elect, in its sole and absolute discretion, that a CSO be made by the Conversion Shares Depository to all or some of the ordinary shareholders of the Issuer, at a cash price of £1.65 per Conversion Share (subject to certain anti-dilution adjustments) (the Conversion Shares Offer Price). Thereafter, Holders will receive Conversion Shares, cash or a combination of both.
Tax Redemption:
At a price of 100% of principal amount, in whole but not in part, together with any accrued but unpaid interest (which excludes any interest cancelled or deemed cancelled), if (1) Issuer will or would be required to pay additional amounts or (2) interest payments would no longer be deductible for U.K. tax purposes or the value of the deduction would be materially reduced or (3) Issuer would not be able to benefit from intra-group loss-relief provisions for U.K. tax purposes or (4) Issuer would have to bring into account a taxable credit if the principal amount of the Securities was written down or converted into Conversion Shares or (5) the Securities or any part thereof would become treated as a derivative or an embedded derivative for U.K. tax purposes, in each case, as a result of a change in, or amendment to the laws or regulations of a Taxing Jurisdiction, including any treaty to which the relevant Taxing Jurisdiction is a party, or a change in an official application of those laws or regulations, including a decision of any court or tribunal, on or after the issue date of the Securities
Regulatory Event Redemption Call:
At a price of 100% of principal amount, in whole but not in part, together with any accrued but unpaid interest (which excludes any interest cancelled or deemed cancelled), if there is a change in the regulatory classification of the Securities that occurs on or after the issue date of the Securities, that does, or would be likely to, result in the whole or any part of the outstanding aggregate principal amount of the Securities at any time being excluded from, or ceasing to count towards, the Group’s Tier 1 Capital.
No Set-off:
No Holder may exercise or claim or plead any right of set-off, compensation or retention in respect of the Securities.
Deferral Interest Payment
Interest on the Securities is due and payable only at the sole discretion of the Issuer, and the Issuer shall have sole and absolute discretion at all times and for any reason to cancel (in whole or in part) any interest payment that would otherwise be payable on any Interest Payment Date. If the Issuer does not make an interest payment on the relevant Interest Payment Date (or if the Issuer elects to make a payment of a portion, but not all, of such interest payment), such non-payment shall evidence the Issuer's exercise of its discretion to cancel such interest payment (or the portion of such interest payment not paid), and accordingly such interest payment (or the portion thereof not paid) shall not be due and payable.
Subject to the extent permitted in paragraph (b)(ii) below, the Issuer shall not make an interest payment on the Securities on any Interest Payment Date (and such interest payment shall therefore be deemed to have been cancelled and thus shall not be due and payable on such Interest Payment Date) if:
(A) the Issuer has an amount of Distributable Items on such Interest Payment Date that is less than the sum of (i) all distributions or interest payments made or declared by the Issuer since the end of the last financial year and prior to such Interest Payment Date on or in respect of any Parity Securities, the Securities and any Junior Securities and (ii) all distributions or interest payments payable by the Issuer (and not cancelled or deemed cancelled) on such Interest Payment Date (x) on the Securities and (y) on or in respect of any Parity Securities, in the case of each of (i) and (ii), excluding any payments already accounted for in determining the Distributable Items; or
(B) the Solvency Condition is not satisfied in respect of such interest payment.
Issuer Call
Additional Note
Recognition of UK Bail-in Power
(a) Agreement and Acknowledgement with Respect to the Exercise of the UK Bail-in Power Notwithstanding and to the exclusion of any other term of the Securities or any other agreements, arrangements, or understandings between the Issuer and any Holder (or the Trustee on behalf of the Holders), by its acquisition of the Securities, each Holder acknowledges and accepts that the Relevant Amounts arising under the Securities may be subject to the exercise of the UK Bail-in Power by the Resolution Authority, and acknowledges, accepts, consents, and agrees to be bound by:
(i) the effect of the exercise of the UK Bail-in Power by the Resolution Authority, that may include and result in any of the following, or some combination thereof:
(A) the reduction of all, or a portion, of the Relevant Amounts;
(B) the conversion of all, or a portion, of the Relevant Amounts on the Securities into shares, other securities or other obligations of the Issuer or another person (and the issue to or conferral on the Holder of such shares, securities or obligations), including by means of an amendment, modification or variation of the terms of the Securities;
(C) the cancellation of the Securities;
(D) amendment of the amount of interest that may be payable on the Securities, or the date on which the interest may become payable, including by suspending payment for a temporary period;
(ii) the variation of the terms of the Securities, if necessary, to give effect to the exercise of the UK Bail-in Power by the Resolution Authority.
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