Bond Factsheet
Marketplace
BACR 4.650% Perpetual Corp (SGD)
Barclays PLC
Full Lot
Bid Price 99.100
Change in Bid Price 1.400
Bid Yield (%) 4.839 %
Change in Bid Yield 0.297
Bid Volume 250,000
Ask Price 100.300
Change in Ask Price 0.200
Ask Yield (%) 4.584 %
Change in Ask Yield 0.042
Ask Volume 250,000
Price as of 06 Oct 2026, 5:26pm
Odd Lot
Bid Price 99.100
Change in Bid Price 1.100
Bid Yield (%) 4.839 %
Change in Bid Yield 0.233
Bid Volume 100,000
Ask Price 100.350
Change in Ask Price 0.150
Ask Yield (%) 4.574 %
Change in Ask Yield 0.032
Ask Volume 100,000
Price as of 06 Oct 2026, 5:26pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Barclays PLC
Guarantor
-
Announcement Date
27 Oct 2025
Issue Date
03 Nov 2025
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 5.192
Modified Duration
4.574 @ 06 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
4.650
Coupon Type
Variable
Annual Coupon Rate
4.650
Coupon Frequency
Quarterly
Seniority
Junior Subordinated
Capital Structure
Additional Tier 1
Reference Rate
Reset Date:15 March 2032 and every 5 years thereafter
Reset Rate: 5-year SORA-OIS + Margin (3.083%)
ISIN
XS3218705542
CUSIP
YJ6171674
Bond Currency
SGD
Total Issue Size
500,000,000
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
Automatic Conversion
Automatic Conversion Upon Capital Adequacy Trigger Event
(i) Automatic Conversion: If a Capital Adequacy Trigger Event occurs, then an Automatic Conversion 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 the Conversion Shares to the Conversion Shares Depository on the Conversion Date at the Conversion Price, and under no circumstances shall such released obligations be reinstated. If the Issuer has been unable to appoint a Conversion Shares Depository, it shall make such other arrangements for the issuance and/or delivery of the Conversion Shares or Conversion Shares Offer Consideration, as applicable, to the Holders as it shall consider reasonable in the circumstances, which may include issuing the Conversion Shares to another nominee or to the Holders directly, which issuance shall irrevocably and automatically release all of the Issuer's obligations under the Securities (other than the CSO Obligations, if any) as if the Conversion Shares had been issued to the Conversion Shares Depository.
A "Capital Adequacy Trigger Event" shall occur if at any time the fully loaded CET1 Ratio is less than 7.00 per cent. 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. The Automatic Conversion shall occur without delay upon the occurrence of a Capital Adequacy Trigger Event.
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 Conversion Shares Offer of all or some of the Conversion Shares 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.
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) the amendment or alteration of the maturity, if any, of the Securities, or the 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.
Deferral Interest Payment
a) Interest payments discretionary 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.
If the Issuer provides notice to cancel a portion, but not all, of an interest payment and the Issuer subsequently does not make a payment of the remaining portion of such interest payment on the relevant Interest Payment Date, such non-payment shall evidence the Issuer's exercise of its discretion to cancel such remaining portion of the interest payment, and accordingly such remaining portion of the interest payment shall also not be due and payable.
(b) Restriction on interest payments
(i) Subject to the extent permitted in paragraph 4(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
Subject to paragraph (e) (Conditions to redemption or purchase), if there is a change in the regulatory classification of the Securities that occurs on or after the Issue Date and 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 (a "Regulatory Event"), the Issuer may, at its option, at any time redeem the Securities, in whole but not in part, at a redemption price equal to 100 per cent. of their principal amount, together with any accrued but unpaid interest (which excludes any interest cancelled or deemed cancelled in accordance with Condition 4 (Interest Cancellation)) to (but excluding) the date fixed for redemption.
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