Bond Barclay PLC 3.564% ( US06738EBP97 ) in USD

Issuer Barclay PLC
Market price refresh price now   100 %  ▲ 
Country  United Kingdom
ISIN code  US06738EBP97 ( in USD )
Interest rate 3.564% per year ( payment 2 times a year)
Maturity 22/09/2035



Prospectus brochure of the bond Barclays PLC US06738EBP97 en USD 3.564%, maturity 22/09/2035


Minimal amount 200 000 USD
Total amount 1 000 000 000 USD
Cusip 06738EBP9
Standard & Poor's ( S&P ) rating BB+ ( Non-investment grade speculative )
Moody's rating Baa2 ( Lower medium grade - Investment-grade )
Next Coupon 23/09/2025 ( In 143 days )
Detailed description Barclays PLC is a British multinational banking and financial services corporation headquartered in London, offering a wide range of services including personal and corporate banking, investment banking, and wealth management.

The Bond issued by Barclay PLC ( United Kingdom ) , in USD, with the ISIN code US06738EBP97, pays a coupon of 3.564% per year.
The coupons are paid 2 times per year and the Bond maturity is 22/09/2035

The Bond issued by Barclay PLC ( United Kingdom ) , in USD, with the ISIN code US06738EBP97, was rated Baa2 ( Lower medium grade - Investment-grade ) by Moody's credit rating agency.

The Bond issued by Barclay PLC ( United Kingdom ) , in USD, with the ISIN code US06738EBP97, was rated BB+ ( Non-investment grade speculative ) by Standard & Poor's ( S&P ) credit rating agency.







Prospectus Supplement to Prospectus dated April 6, 2018
$1,000,000,000 3.564% Fixed Rate Resetting Subordinated Callable Notes
due 2035
Barclays PLC
We, Barclays PLC (the "Issuer" or "Barclays"), are issuing $1,000,000,000 aggregate principal amount of
3.564% Fixed Rate Resetting Subordinated Callable Notes due 2035 (the "notes").
From (and including) the Issue Date (as defined below) to (but excluding) September 23, 2030 (the "Reset
Date"), interest will accrue on the notes at a rate of 3.564% per annum. From (and including) the Reset Date to
(but excluding) the Maturity Date (as defined below), the applicable per annum interest rate will be equal to the
sum, as determined by the Calculation Agent (as defined below), of the then-prevailing U.S. Treasury Rate (as
defined below) on the Reset Determination Date (as defined below), plus 2.900%. Interest will be payable semi-
annually in arrear on March 23 and September 23 in each year, commencing on March 23, 2021.
The notes will constitute our direct, unsecured and subordinated obligations ranking pari passu without any
preference among themselves. In the event of our winding-up or administration, the notes will rank as described
in this prospectus supplement under "Description of Subordinated Notes--Ranking."
We may, at our option, redeem the notes then outstanding, in whole but not in part, on the Reset Date at an
amount equal to 100% of their principal amount together with accrued but unpaid interest, if any, on the principal
amount of the notes to be redeemed to (but excluding) such redemption date, on the terms and subject to the
provisions set forth in this prospectus supplement under "Description of Subordinated Notes--Redemption
Provisions--Optional Redemption." We may also, at our option, redeem the notes, in whole but not in part, at
any time at an amount equal to 100% of their principal amount together with accrued but unpaid interest, if any,
on the principal amount of the notes to be redeemed to (but excluding) the redemption date, in the event of a
change in certain U.K. regulatory capital requirements as described in this prospectus supplement under
"Description of Subordinated Notes--Redemption Provisions--Regulatory Event Redemption." We may also, at
our option, at any time, redeem the notes, in whole but not in part, at an amount equal to 100% of the principal
amount of the notes being redeemed together with accrued but unpaid interest, if any, on the principal amount of
the notes to be redeemed to (but excluding) the redemption date, upon the occurrence of certain events related to
taxation on the terms described in this prospectus supplement under "Description of Subordinated Notes--
Redemption Provisions--Tax Redemption." Any redemption or repurchase of the notes is subject to the
provisions described in this prospectus supplement under "Description of Subordinated Notes--Redemption
Provisions--Condition to Redemption" and "Description of Subordinated Notes--Redemption Provisions--
Condition to Repurchase."
We will apply to list the notes on the New York Stock Exchange ("NYSE"). Trading on the NYSE is expected to
begin within 30 days of the initial delivery of the notes.
IMPORTANT--PRIIPs REGULATION / PROHIBITION OF SALES TO EEA AND U.K. RETAIL
INVESTORS. The notes are not intended to be offered, sold or otherwise made available to and should not
be offered, sold or otherwise made available to any retail investor in the European Economic Area
("EEA") or in the United Kingdom ("U.K."). For these purposes, a retail investor means a person who is
one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as
amended, "MiFD II"); or (ii) a customer within the meaning of Directive (EU) 2016/97 (the "Insurance
Distribution Directive"), where that customer would not qualify as a professional client as defined in point
(10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU)
No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the notes or otherwise making
them available to retail investors in the EEA or in the U.K. has been prepared and therefore offering or
selling the notes or otherwise making them available to any retail investor in the EEA or in the U.K. may
be unlawful under the PRIIPs Regulation.


Singapore Securities and Futures Act Product Classification--Solely for the purposes of its obligations
pursuant to sections 309B(1)(a) and 309B(1)(c) of the Securities and Futures Act (Chapter 289 of Singapore) (the
"SFA"), the Issuer has determined, and hereby notifies all relevant persons (as defined in Section 309A of the
SFA) that the Securities are "prescribed capital markets products" (as defined in the Securities and Futures
(Capital Markets Products) Regulations 2018).
Notwithstanding any other agreements, arrangements or understandings between us and any holder or
beneficial owner of the notes, by acquiring the notes, each holder and beneficial owner of the notes
acknowledges, accepts, agrees to be bound by, and consents to, the exercise of any U.K. Bail-in Power (as
defined in the accompanying prospectus) by the Relevant U.K. Resolution Authority (as defined in the
accompanying prospectus) that may result in: (i) the reduction or cancellation of all, or a portion, of the
principal amount of, or interest on, the notes; (ii) the conversion of all, or a portion of, the principal
amount of, or interest on, the notes into shares or other securities or other obligations of the Issuer or
another person (and the issue to, or conferral on, the holder or beneficial owner of the notes of such shares,
securities or obligations); and/or (iii) the amendment or alteration of the maturity of the notes, or
amendment of the amount of interest due on the notes, or the dates on which interest becomes payable,
including by suspending payment for a temporary period; which U.K. Bail-in Power may be exercised by
means of a variation of the terms of the notes solely to give effect to the exercise by the Relevant U.K.
Resolution Authority of such U.K. Bail-in Power. For more information, see the section entitled
"Description of Debt Securities--Agreement with Respect to the Exercise of U.K. Bail-in Power" in the
accompanying prospectus.
By its acquisition of the notes, each holder and beneficial owner of the notes, to the extent permitted by the
U.S. Trust Indenture Act of 1939, as amended (the "Trust Indenture Act"), also waives any and all claims
against the Trustee (as defined herein) for, agrees not to initiate a suit against the Trustee in respect of, and
agrees that the Trustee shall not be liable for, any action that the Trustee takes, or abstains from taking, in
either case, in accordance with the exercise of the U.K. Bail-in Power by the Relevant U.K. Resolution
Authority with respect to the notes. For more information, see the section entitled "Description of Debt
Securities--Agreement with Respect to the Exercise of U.K. Bail-in Power" in the accompanying prospectus.
Investing in the notes involves risks. We encourage you to read and carefully consider this document in its
entirety, in particular the risk factors beginning on page S-16 of this prospectus supplement, and the other
information included and incorporated by reference in this prospectus supplement and the accompanying
prospectus, for a discussion of the factors you should carefully consider before deciding to invest in the
notes.
Neither the U.S. Securities and Exchange Commission nor any U.S. state securities commission has
approved or disapproved of the notes or determined that this prospectus supplement is truthful or
complete. Any representation to the contrary is a criminal offense.
The notes are not deposit liabilities of Barclays PLC and are not covered by the U.K. Financial Services
Compensation Scheme or insured by the U.S. Federal Deposit Insurance Corporation, the Canada Deposit
Insurance Corporation or any other governmental agency of the United States, the U.K., Canada or any
other jurisdiction.
Proceeds, before
Underwriting
expenses, to
Price to Public(1)
Compensation
Barclays PLC
Per note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
100.000%
0.450%
99.550%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$1,000,000,000
$4,500,000
$995,500,000
(1) Plus accrued interest, if any, from and including September 23, 2020.


The underwriters expect to deliver the notes to purchasers in book-entry form only through the facilities of The
Depository Trust Company ("DTC"), on or about September 23, 2020. Beneficial interests in the notes will be
shown on, and transfers thereof will be effected only through, records maintained by DTC and its participants,
including Clearstream Banking S.A. ("Clearstream, Luxembourg") and Euroclear Bank SA/NV ("Euroclear").
Sole Structuring Adviser and Sole Bookrunner
Barclays
Senior Co-Managers
Lloyds Securities
MUFG
RBC Capital Markets
Société Générale Corporate & Investment Banking
UniCredit Capital Markets
Wells Fargo Securities
Co-Managers
ANZ Securities
BBVA
C.L. King & Associates CastleOak Securities, L.P.
Citizens Capital Markets
DZ Financial Markets LLC
Nomura
PNC Capital Markets LLC
Rabo Securities
Raiffeisen Bank International
US Bancorp
Prospectus Supplement dated September 16, 2020


TABLE OF CONTENTS
PROSPECTUS SUPPLEMENT
Page Number
Forward-Looking Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-1
Incorporation of Documents by Reference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-3
Certain Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-4
Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-5
Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-16
Use of Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-27
Description of Subordinated Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-28
U.S. Federal Income Tax Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-38
United Kingdom Tax Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-39
Benefit Plan Investor Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-41
Underwriting (Conflicts of Interest) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-43
Validity of Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-48
PROSPECTUS
Forward-Looking Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
Incorporation of Certain Documents by Reference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Certain Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
The Barclays Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Use of Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Description of Debt Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
Description of Contingent Convertible Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24
Description of Ordinary Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
43
Description of Certain Provisions Relating to Debt Securities and Contingent Convertible
Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
45
Clearance and Settlement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
48
Tax Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
54
Employee Retirement Income Security Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
74
Plan of Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
76
Service of Process and Enforcement of Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
80
Where You Can Find More Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
81
Further Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
82
Validity of Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
83
Experts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
84
Expenses of Issuance and Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
85


FORWARD-LOOKING STATEMENTS
This prospectus supplement and certain documents incorporated by reference herein contain certain forward-
looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"),
with respect to the Group (as defined below). We caution 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 sometimes 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. Examples of forward-looking statements include, among others, statements or guidance regarding or
relating to the Group's future financial position, income growth, assets, impairment charges, provisions, business
strategy, capital, leverage and other regulatory ratios, payment of dividends (including dividend payout ratios and
expected payment strategies), projected levels of growth in the banking and financial markets, projected costs or
savings, any commitments and targets, estimates of capital expenditures, plans and objectives for future
operations, projected employee numbers, International Financial Reporting Standards ("IFRS") impacts and
other statements that are not historical fact. By their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances. These may be affected by changes in
legislation, the development of standards and interpretations under IFRS including evolving practices with regard
to the interpretation and application of accounting and regulatory standards, the outcome of current and future
legal proceedings and regulatory investigations, future levels of conduct provisions, the policies and actions of
governmental and regulatory authorities, geopolitical risks and the impact of competition. In addition, factors
including (but not limited to) the following may have an effect: capital, leverage and other regulatory rules
applicable to past, current and future periods; U.K., United States, Eurozone and global macroeconomic and
business conditions; the effects of any volatility in credit markets; market-related risks such as changes in interest
rates and foreign exchange rates; effects of changes in valuation of credit market exposures; changes in valuation
of issued securities; volatility in capital markets; changes in credit ratings of any entity within the Group or any
securities issued by such entities; direct and indirect impacts of the coronavirus ("COVID-19") pandemic;
instability as a result of the exit by the U.K. from the European Union (the "EU") and the disruption that may
subsequently result in the U.K. and globally; and the success of future acquisitions, disposals and other strategic
transactions. A number of these influences and factors are beyond the Group's control. As a result, the Group's
actual financial position, future results, dividend payments, capital and leverage or other regulatory ratios or
other financial and non-financial metrics or performance measures may differ materially from the statements or
guidance set forth in the Group's forward-looking statements. The list above is not exhaustive and there are other
factors that may cause our actual results to differ materially from the forward-looking statements contained in
this prospectus supplement and the documents incorporated by reference herein. You are also advised to read
carefully the risk factors set out in the section entitled "Risk Factors" in this prospectus supplement and in our
filings with the U.S. Securities Exchange Commission (the "SEC"), including in our Annual Report on Form
20-F for the fiscal year ended December 31, 2019, filed with the SEC on February 13, 2020 (the "2019 Form
20-F"), and our interim report on Form 6-K for the period ended June 30, 2020, filed with the SEC on July 29,
2020 (the "H1 2020 6-K"), which are available on the SEC's website at http://www.sec.gov for a discussion of
certain factors that should be considered when deciding what action to take in relation to the notes.
Any forward-looking statements made herein or in the documents incorporated by reference herein speak only as
of the date they are made and it should not be assumed that they have been revised or updated in the light of new
information or future events. Except as required by the PRA (as defined below), the Financial Conduct Authority
(the "FCA"), the London Stock Exchange plc (the "LSE"), the SEC or applicable laws and regulations of any
relevant jurisdiction (including, without limitation, the U.K. and the U.S.), in relation to disclosure of ongoing
information, Barclays expressly disclaims any obligation or undertaking to release publicly, update or revise any
forward-looking statements contained in this prospectus supplement or in the documents incorporated by
reference herein to reflect any change in Barclays' expectations with regard thereto or any new information,
S-1


future events, change in events, conditions or circumstances, or otherwise, on which any such statement is based.
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 LSE and/or has filed or may
file with the SEC.
S-2


INCORPORATION OF DOCUMENTS BY REFERENCE
This prospectus supplement is part of a registration statement on Form F-3 (File No. 333-223156) we have filed
with the SEC under the Securities Act. This prospectus supplement omits some information contained in the
registration statement in accordance with SEC rules and regulations. You should review the information in and
exhibits to the registration statement for further information on us and the notes. Statements in this prospectus
supplement concerning any document we have filed or will file as an exhibit to the registration statement or that
we have otherwise filed with the SEC are not intended to be comprehensive and are qualified in their entirety by
reference to these filings. You should review the complete document to evaluate these statements.
The SEC allows us to "incorporate by reference" much of the information we file with the SEC, which means
that we can disclose important information to you by referring you to those publicly available documents. The
information that we incorporate by reference in this prospectus supplement is an important part of this prospectus
supplement. For information on the documents we incorporate by reference in this prospectus supplement and the
accompanying prospectus, we refer you to "Incorporation of Certain Documents by Reference" on page 2 of the
accompanying prospectus. In particular, we refer you to the 2019 Form 20-F for a discussion of our audited
results of operations and financial condition as of, and for the year ended, December 31, 2019, our Current
Reports on Form 6-K filed on February 13, 2020 (Film No. 20608656), on April 29, 2020 (Film No. 20828945)
and on July 29, 2020 (Film No. 201056008), which are incorporated by reference into this prospectus
supplement.
In addition to the documents listed in the accompanying prospectus and the documents incorporated by reference
since the date of the accompanying prospectus, we incorporate by reference in this prospectus supplement and
the accompanying prospectus any future documents we may file with the SEC under Section 13(a), 13(c), 14 or
15(d) of the Exchange Act from the date of this prospectus supplement until the offering contemplated in this
prospectus supplement is completed. Reports on Form 6-K we may furnish to the SEC after the date of this
prospectus supplement (or portions thereof) are incorporated by reference in this prospectus supplement only to
the extent that the report expressly states that it is (or such portions are) incorporated by reference in this
prospectus supplement.
We will provide to you, upon your written or oral request, without charge, a copy of any or all of the documents
referred to above or in the accompanying prospectus which we have incorporated in this prospectus supplement
by reference. You should direct your requests to Barclays Treasury, Barclays PLC, 1 Churchill Place, London
E14 5HP, United Kingdom (telephone: 011-44-20-7116-1000).
S-3


CERTAIN DEFINITIONS
For purposes of this prospectus supplement:
·
"BBPLC" refers to Barclays Bank PLC (or any successor entity);
·
"BBUKPLC" refers to Barclays Bank UK PLC (or any successor entity);
·
"BRRD" refers to the EU directive 2014/59/EU of the European Parliament and of the Council
establishing a framework for the recovery and resolution of credit institutions and investment firms of
May 15, 2014, as amended or replaced from time to time (including as amended by Directive (EU)
2019/879 of the European Parliament and of the Council of May 20, 2019) or similar laws in the U.K.;
·
"Capital Regulations" means, at any time, the laws, regulations, requirements, standards, guidelines
and policies relating to capital adequacy and/or minimum requirement for own funds and eligible
liabilities and/or loss absorbing capacity for credit institutions of either (i) the PRA and/or (ii) any other
national or European authority, in each case then in effect in the U.K. (or in such other jurisdiction in
which we may be organized or domiciled) and applicable to the Group including, as at the date hereof,
CRD and related technical standards;
·
"Capital Requirements Directive" means Directive 2013/36/EU on access to the activity of credit
institutions and the prudential supervision of credit institutions and investment firms, as amended or
replaced from time to time (including as amended by Directive (EU) 2019/878 of the European
Parliament and of the Council of May 20, 2019) or similar laws in the U.K.;
·
"CRD" means the legislative package consisting of the Capital Requirements Directive and the CRD
Regulation;
·
"CRD Regulation" means Regulation (EU) No. 575/2013 on prudential requirements for credit
institutions and investment firms of the European Parliament and of the Council of June 26, 2013, as
amended or replaced from time to time (including as amended by Regulation (EU) 2019/876 of the
European Parliament and of the Council of May 20, 2019, to the extent then in application) or similar
laws in the U.K.;
·
"The Depository Trust Company" or "DTC" shall include any successor clearing system;
·
"Group" and "Barclays" refer to Barclays PLC (or any successor entity) and its consolidated
subsidiaries;
·
"PRA" means the Prudential Regulation Authority of the U.K. or such other governmental authority in
the U.K. (or if Barclays PLC becomes domiciled in a jurisdiction other than the U.K., such other
jurisdiction) having primary responsibility for the prudential supervision of Barclays PLC;
·
"sterling" refers to the lawful currency for the time being of the U.K.;
·
"Tier 1 Capital" means Tier 1 Capital for the purposes of the Capital Regulations;
·
"Tier 2 Capital" means Tier 2 Capital for the purposes of the Capital Regulations;
·
"$" and "U.S. dollars" refers to the lawful currency for the time being of the United States; and
·
"we," "us," "our" and the "Issuer" refer to Barclays PLC (or any successor entity), unless the context
requires otherwise.
S-4


SUMMARY
The following is a summary of this prospectus supplement and should be read as an introduction to, and in
conjunction with, the remainder of this prospectus supplement, the accompanying prospectus and any
documents incorporated by reference therein. You should base your investment decision on a consideration
of this prospectus supplement, the accompanying prospectus and any documents incorporated by reference
therein, as a whole. Words and expressions defined in "Description of Subordinated Notes" below shall
have the same meanings in this summary.
General
The Issuer
Barclays PLC
Barclays is a British universal bank with a diversified and
connected portfolio of businesses, serving retail and wholesale
customers and clients globally. The Group's businesses
include consumer banking and payments operations around
the world, as well as a top-tier, full service, global consumer
and investment bank. The Group operates as two operating
divisions: the Barclays UK ("Barclays UK") division and the
Barclays International ("Barclays International") division.
These are housed in two banking subsidiaries--Barclays UK
sits within BBUKPLC, and Barclays International sits within
BBPLC--which are supported by Barclays Execution
Services Limited. Barclays Execution Services Limited is the
Group-wide service company providing technology,
operations and functional services to businesses across the
Group.
Barclays UK offers everyday products and services to meet
the banking needs of U.K. based retail customers and small to
medium-sized enterprises. Products and services designed for
the Group's larger corporate, wholesale and international
banking clients are offered by Barclays International.
The Issuer is the ultimate holding company of the Group.
The Securities We Are Offering
We are offering $1,000,000,000 aggregate principal amount of
3.564% Fixed Rate Resetting Subordinated Callable Notes due
2035.
Issue Date
September 23, 2020 (the "Issue Date").
Maturity Date
We will repay the notes at 100% of their principal amount
plus accrued interest on September 23, 2035 (the "Maturity
Date").
Interest Rate
From (and including) the Issue Date to (but excluding) the
Reset Date, the notes will bear interest at a rate of 3.564% per
annum (the "Initial Interest Rate").
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From (and including) the Reset Date to (but excluding) the
Maturity Date (the "Reset Period"), the applicable per annum
interest rate (the "Subsequent Interest Rate") will be equal to
the sum, as determined by the Calculation Agent, of the then-
prevailing U.S. Treasury Rate (as defined below, such term
subject to the provisions described under "Description of
Subordinated Notes" below) on the Reset Determination Date
(as defined below), plus 2.900% (the "Margin").
Reset Date
September 23, 2030.
Reset Determination Date
The second Business Day (as defined below) immediately
preceding the Reset Date (the "Reset Determination Date").
Interest Payment Dates
Semi-annually in arrear on March 23 and September 23 of
each year, commencing on March 23, 2021 (each, an "Interest
Payment Date"). If any scheduled Interest Payment Date is not
a Business Day (as defined below), we will pay interest on the
next succeeding Business Day, but interest on that payment
will not accrue during the period from and after the scheduled
Interest Payment Date.
U.S. Treasury Rate and Fallbacks
"U.S. Treasury Rate" means, with respect to the Reset Period,
the rate per annum equal to: (1) the yield, under the heading
which represents the average for the week immediately prior
to the Reset Determination Date, appearing in the most
recently published statistical release designated "H.15", or any
successor publication that is published by the Board of
Governors of the Federal Reserve System that establishes
yields on actively traded U.S. Treasury securities adjusted to
constant maturity, under the caption "Treasury constant
maturities", for the maturity of five years; or (2) if such
release (or any successor release) is not published during the
week immediately prior to the Reset Determination Date or
does not contain such yields, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable
Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for the Reset
Determination Date.
The U.S. Treasury Rate shall be determined by the Calculation
Agent (as defined below).
If the U.S. Treasury Rate cannot be determined, for whatever
reason, as described under (1) or (2) above, "U.S. Treasury
Rate" means the rate in percentage per annum as notified by
the Calculation Agent to the Issuer equal to the yield on
U.S. Treasury securities having a maturity of five years as set
forth in the most recently published statistical release
designated "H.15" under the caption "Treasury constant
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Document Outline