TIDM96ES
RNS Number : 4090J
Barclays Bank PLC
29 March 2018
Barclays Bank PLC
Barclays Bank PLC EUR35bn Global Covered Bond Programme (the
Programme) - Issuer Substitution
Existing Securities Issued under the Programme (the
Securities)
Series ISIN Nominal Amount Principal Amount
Outstanding
2009-1 XS0456178580 EUR2,000,000,000 EUR2,000,000,000
2010-2 XS0491009659 EUR1,300,000,000 EUR1,300,000,000
2011-1 XS0576797947 EUR1,000,000,000 EUR1,000,000,000
2012-1 XS0729895200 GBP1,000,000,000 GBP1,000,000,000
2017-1 XS1616919095 GBP1,000,000,000 GBP1,000,000,000
2018-1 XS1746306585 GBP1,250,000,000 GBP1,250,000,000
The requirement to ring-fence day-to-day banking services, which
must be completed by 1 January 2019, is one of the reforms brought
in by the UK government, aiming to strengthen the UK financial
system following the financial crisis that began in 2008.
In order to effect ring-fencing, Barclays intends to transfer
businesses from Barclays Bank PLC and certain of its subsidiaries
to Barclays Bank UK PLC, which are materially those businesses that
currently comprise the Barclays UK division (including the related
mortgage business).
Holders of Covered Bonds issued under the Programme do not need
to take any action for the changes described above to take place.
Barclays has obtained approval from the Prudential Regulation
Authority and the High Court of Justice of England and Wales to
implement the restructuring outlined above using a legal process
called a Ring-Fencing Transfer Scheme under Part VII of the
Financial Services and Markets Act 2000.
Notice is hereby given that, subject to the approval of the UK
Financial Conduct Authority and the London Stock Exchange, certain
of the Programme counterparty roles and obligations performed by
Barclays Bank PLC, including the role of Issuer of the Securities,
are intended to be transferred to Barclays Bank UK PLC via the
Barclays ring-fenced transfer scheme on 1 April 2018 (the
Substitution), with the Substitution appearing in the records of
the UK Listing Authority and the London Stock Exchange from 3 April
2018.
Ends
For further information please contact:
Investor Relations Media Relations
Kathryn McLeland Tom Hoskin
+44 (0) 20 7116 4943 +44 (0) 20 7116 6927
About Barclays
Barclays is a transatlantic consumer and wholesale bank offering
products and services across personal, corporate and investment
banking, credit cards and wealth management, with a strong presence
in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking,
Barclays operates in over 40 countries and employs approximately
80,000 people. Barclays moves, lends, invests and protects money
for customers and clients worldwide.
For further information about Barclays, please visit our website
www.barclays.com
Information regarding forward-looking statements
This announcement contains certain forward-looking statements
within the meaning of Section 21E of the US Securities Exchange Act
of 1934, as amended, and Section 27A of the US Securities Act of
1933, as amended. Barclays cautions readers that no forward-looking
statement is a guarantee of future performance and that actual
results or other financial condition or performance measures could
differ materially from those contained in the forward-looking
statements. These forward-looking statements can be identified by
the fact that they do not relate only to historical or current
facts. Forward-looking statements use words such as 'may', 'will',
'seek', 'continue', 'aim', 'anticipate', 'target', 'projected',
'expect', 'estimate', 'intend', 'plan', 'goal', 'believe',
'achieve', or other words of similar meaning. These statements and
estimates are based on the current assumptions, beliefs and
expectations of Barclays' management. By their nature,
forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances.
Subject to our obligations under applicable law and regulation,
we undertake no obligations to update publicly or review any
forward-looking statements, whether as a result of new information
or otherwise.
The reader should, however, consult any additional disclosures
that Barclays has made or may make in documents it has published or
may publish via the Regulatory News Service of the London Stock
Exchange and/or has filed or may file with the US Securities and
Exchange Commission.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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