Obligation Barclay PLC 0% ( GB00B8SVW156 ) en GBP

Barclay PLC

100 % ⇌

Royaume-Uni

GB00B8SVW156 ( en GBP )

26/08/2025

Prospectus brochure de l'obligation Barclays PLC GB00B8SVW156 en GBP 0%, échéance 26/08/2025

1 GBP

6 000 000 GBP

Barclays PLC est une banque multinationale britannique offrant une large gamme de services financiers, notamment la banque de détail, la gestion de patrimoine, la banque d'investissement et les cartes de crédit, opérant dans de nombreux pays à travers le monde.

L'Obligation émise par Barclay PLC ( Royaume-Uni ) , en GBP, avec le code ISIN GB00B8SVW156, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 26/08/2025

Execution Version
BARCLAYS BANK PLC
(Incorporated with limited liability in England and Wales)
________________________________________________________________
GBP 3,000,000 Securities linked to a Basket of Indices due 26 August 2025 (the "Securities")
Series NX000218027
________________________________________________________________
Issued pursuant to the Global Structured Securities Programme
What is this document?
This document (the "Prospectus"), which has been published on the website of the London Stock Exchange
(www.londonstockexchange.com), constitutes a prospectus for the purposes of Article 5.3 of Directive 2003/71/EC
as amended including by Directive 2010/73/EU (the "Prospectus Directive") relating to the Securities. This
Prospectus, including the information incorporated by reference into it, is intended to provide investors with
information necessary to enable them to make an informed investment decision before purchasing the Securities.
Who is the Issuer?
The Securities are issued by Barclays Bank PLC (the "Issuer"). The payment of any amounts due under the
Securities is subject to the Issuer's financial position and its ability to meet its obligations. This Prospectus,
including the Registration Document (as defined in 'Information Incorporated by Reference' below) and other
information incorporated by reference into this Prospectus, contains information describing the Issuer's business
activities as well as certain financial information and material risks faced by the Issuer.
What are the Securities?
The Securities are in the form of Notes and are issued by the Issuer under its Global Structured Securities
Programme (the "Programme"). The terms and conditions of the Securities will comprise:

the Terms and Conditions of the Securities (the "General Conditions") as incorporated in relevant part by
reference from the Base Prospectus (as defined in 'Information Incorporated by Reference' below); and

the specific terms of the Securities (the "Specific Terms"), which amend, supplement and complete the
General Conditions, as set out in 'Specific Terms' below.
What underlying assets are the Securities linked to?
The return on the Securities depends on the performance of the S&P 500® Index and the FTSE® 100 Index (the
"Underlying Assets").
What information is incorporated by reference?
The Prospectus incorporates by reference certain information from the Base Prospectus, the Registration Document
and other documents. See the section entitled 'Information Incorporated by Reference' below. You should read this
document together with such information incorporated by reference. Documents will be made available at the
registered office of the Issuer and at https://www.home.barclays/prospectuses-and-documentation/structured-
securities/prospectuses.html
and
https://www.home.barclays/barclays-investor-relations/results-
andreports/results.html and this document will also be published on the website of the London Stock Exchange
(www.londonstockexchange.com).
What are the principal risks?
Your investment in the Securities depends on the ability of the Issuer to meet its payment obligations under
the Securities. Further, depending on the performance of the Underlying Assets, you could lose some or all of
your investment. Before purchasing the Securities, you should consider in particular the information described in
'Risk Factors' below, together with the other information in this Prospectus.
11 October 2018

Important information
IMPORTANT INFORMATION
THE AMOUNT PAYABLE ON REDEMPTION OF THE SECURITIES MAY BE LESS THAN THE
ORIGINAL INVESTED AMOUNT (AND IN SOME CASES MAY BE ZERO), IN WHICH CASE YOU
MAY LOSE SOME OR ALL OF YOUR ORIGINAL INVESTMENT.
IF THE ISSUER BECOMES INSOLVENT OR BANKRUPT OR OTHERWISE FAILS TO MAKE ITS
PAYMENT OBLIGATIONS ON THE SECURITIES, YOU WILL LOSE SOME OR ALL OF YOUR
ORIGINAL INVESTMENT.
INVESTING IN THE SECURITIES INVOLVES CERTAIN RISKS, AND YOU SHOULD FULLY
UNDERSTAND THESE BEFORE YOU INVEST. SEE 'RISK FACTORS' BELOW.
Responsibility
The Issuer accepts responsibility for the information contained in this Prospectus. To the best of the knowledge
of the Issuer (having taken all reasonable care to ensure that such is the case), the information contained in this
Prospectus is in accordance with the facts and contains no omission likely to affect the import of such
information.
Regulatory approval for the purposes of the EU Prospectus Directive
This Prospectus has been approved by the United Kingdom Financial Conduct Authority (the "FCA") in its
capacity as the United Kingdom competent authority for the purposes of the Prospectus Directive and relevant
implementing measures in the United Kingdom.
Listing and Admission to Trading
Application has been made for the Securities to be admitted to the Official List and to trading on the Regulated
Market of the London Stock Exchange plc (the "London Stock Exchange"), a regulated market for the
purposes of Directive 2014/65/EC (the "Markets in Financial Instruments Directive"). This Prospectus
constitutes a prospectus for the purposes of Section 87 of the Financial Services and Markets Act 2000. This
Prospectus will be published on the website of the London Stock Exchange (www.londonstockexchange.com).
Administrator status under Benchmark Regulation
Amounts payable under the Securities are calculated by reference to the FTSE® 100 Index, which is provided by
FTSE International Limited (the "Administrator"). As at the date of this Prospectus, the Administrator appears
in the register of administrators and benchmarks established and maintained by the European Securities and
Markets Authority ("ESMA") pursuant to article 36 of the Benchmarks Regulation (Regulation (EU)
2016/1011) (the "BMR").
Amounts payable under the Securities are also calculated by reference to the S&P 500® Index, which is provided
by Standard & Poor's Financial Services LLC. As at the date of this Prospectus, Standard & Poor's Financial
Services LLC does not appear in the register of administrators and benchmarks established and maintained by
ESMA pursuant to article 36 of the BMR.
The registration status of any administrator under the BMR is a matter of public record and, save where required
by applicable law, the Issuer does not intend to update the Prospectus to reflect any change in the registration
status of the administrator.
No compensation arrangements
Any failure by the Issuer to make payments or deliveries due under the Securities would not of itself give rise to
any claim for compensation on the grounds of such a failure. You would not have a claim for compensation
against the UK's Financial Services Compensation Scheme. For more information regarding Issuer risk, please
see the section of the Registration Document headed 'Risk Factors' (which is incorporated by reference into this
Prospectus) and Risk Factors below.
2

Important information
No investment advice
The Prospectus is not and does not purport to be investment advice. Unless expressly agreed otherwise with a
particular investor, neither the Issuer nor the Manager is acting as an investment adviser, providing advice of
any other nature, or assuming any fiduciary obligation to any investor in the Securities.
Independent evaluation
Nothing set out or referred to in, or incorporated by reference into, this Prospectus is intended to provide the
basis of any credit or other evaluation (except in respect of any purchase of the Securities described herein) or
should be considered as a recommendation by the Issuer or the Manager that any recipient of this Prospectus (or
any document referred to herein) should purchase the Securities.
An investor should not purchase the Securities unless they understand the extent of their exposure to potential
loss. Investors are urged to read the factors described in the section of this Prospectus headed 'Risk Factors',
together with the information in this Prospectus (including any information incorporated by reference) before
investing in the Securities.
Investors should note that (i) the risks described in the section headed 'Risk Factors' of this Prospectus and (ii)
the risks described in the section headed 'Risk Factors' of the Registration Document (which is incorporated by
reference into this Prospectus) are not the only risks that the Issuer faces or that may arise because of the nature
of the Securities. The Issuer has described only those risks relating to its operations and to the Securities that it
considers to be material. There may be additional risks that the Issuer currently considers not to be material or of
which it is not currently aware.
Given the nature, complexity and risks inherent in the Securities (and investments relating to the Underlying
Assets), the Securities may not be suitable for an investor's investment objectives in the light of his or her
financial circumstances. Investors should consider seeking independent advice to assist them in determining
whether the Securities are a suitable investment for them or to assist them in evaluating the information
contained in or incorporated by reference into this Prospectus.
You have sole responsibility for the management of your tax and legal affairs including making any applicable
filings and payments and complying with any applicable laws and regulations. Neither the Issuer nor any of its
Affiliates will provide you with tax or legal advice and you should obtain your own independent tax and legal
advice tailored to your individual circumstances. The tax treatment of structured products, such as the
Securities, can be complex; the tax treatment applied to an individual depends on their circumstances. The level
and basis of taxation may alter during the term of any product.
Amounts due to be paid to you are described on a gross basis, i.e. without calculating any tax liability. The
Issuer shall make no deduction for any tax, duty, or other charge unless required by law. See the section of the
Base Prospectus headed 'Taxation' (which is incorporated by reference into this Prospectus) and Risk Factor 13
below.
Potential for discretionary determinations by the Determination Agent and the Issuer under the
Securities
Under the terms and conditions of the Securities, following the occurrence of certain events relating to the
Issuer, the Issuer's hedging arrangements, the Underlying Assets, taxation, the relevant currency or other
matters, the Issuer or the Determination Agent may determine to take one of the actions available to it in order
to deal with the impact of such event on the Securities or the Issuer or both. These actions may include (i)
adjustment to the terms and conditions of the Securities, (ii) substitution of the Underlying Assets or (iii) early
redemption of the Securities. Any such discretionary determination by the Issuer or Determination Agent could
have a material adverse impact on the value of and return on the Securities. See, in particular, the section of this
Prospectus headed 'Risk Factors' below.
Distribution
The distribution or delivery of this Prospectus in certain jurisdictions may be restricted by law. This document
does not constitute, and may not be used for the purposes of, an offer or solicitation by anyone in any
jurisdiction (other than as expressly described in this Prospectus). This Prospectus is prepared for the purpose of
facilitating the listing, and admission to trading, of securities that are already in issue. No new offering of
securities is described in this Prospectus. No action is being taken to permit an offering of the Securities or the
3

Important information
delivery of this Prospectus in any jurisdiction. Persons into whose possession this Prospectus comes are required
by the Issuer to inform themselves about and to observe any such restrictions. Details of selling restrictions for
various jurisdictions are set out in the section of the Base Prospectus headed 'Purchase and Sale' (which is
incorporated by reference into this Prospectus).
Prohibition of Sale to EEA retail investors
The Securities 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 Retail Investor"). For
these purposes, an EEA Retail Investor means a person in the European Economic Area 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 from time to
time, "MiFID"); (ii) a customer within the meaning of the Insurance Mediation Directive (Directive 2002/92/EC
(as amended from time to time)) ("IMD"), where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID; or (iii) not a qualified investor as defined in the Prospectus
Directive. Consequently no key information document required by Regulation (EU) No 1286/2014 (the "PRIIPs
Regulation") for offering or selling the Securities or otherwise making them available to EEA Retail Investors
has been prepared and therefore offering or selling the Securities or otherwise making them available to any
EEA Retail Investor may be unlawful under the PRIIPs Regulation.
United States selling restrictions
The Securities have not been and will not be registered under the US Securities Act of 1933, as amended (the
"Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United
States. Trading in the Securities has not been approved by the US Commodities Futures Trading Commission
under the US Commodity Exchange Act of 1936 (the "Commodity Exchange Act"). The Securities may not be
offered and sold within the United States, or to or for the benefit of U.S. persons (as defined in Regulation S
under the Securities Act ("Regulation S")) ("U.S. persons"), except in certain transactions exempt from the
registration requirements of the Securities Act and applicable state securities laws. The Securities are being
offered and sold outside the United States to non-U.S. persons in reliance on Regulation S.
Securities in bearer form may be subject to US tax law requirements (as described below). Subject to certain
exceptions, the Securities may not be offered, sold or delivered within the United States or its possessions or to,
or for the account or benefit of, United States persons (as defined in in the US Internal Revenue Code of 1986,
as amended, (the "Code") and the regulations thereunder).
For a description of these and certain further restrictions on offers, sales and transfers of the Securities and
delivery of this Prospectus, see the section of the Base Prospectus headed 'Purchase and Sale' (which is
incorporated by reference into this Prospectus).
THE SECURITIES HAVE NOT BEEN AND WILL NOT BE APPROVED OR DISAPPROVED BY THE US
SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION IN THE
UNITED STATES OR ANY OTHER US REGULATORY AUTHORITY, NOR HAVE ANY OF THE
FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OF
THE SECURITIES OR THE ACCURACY OR THE ADEQUACY OF THE OFFERING DOCUMENTS.
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.
US foreign account tax compliance withholding
THE FOREIGN ACCOUNT TAX COMPLIANCE ACT ("FATCA") IS PARTICULARLY COMPLEX
AND ITS CURRENT AND FUTURE APPLICATION TO THE ISSUER, THE SECURITIES AND
INVESTORS IS UNCERTAIN AT THIS TIME. YOU SHOULD CONSULT YOUR OWN TAX
ADVISERS TO OBTAIN A MORE DETAILED EXPLANATION OF FATCA AND TO LEARN HOW
THIS LEGISLATION MIGHT AFFECT YOU IN YOUR PARTICULAR CIRCUMSTANCE,
INCLUDING HOW THE FATCA RULES MAY APPLY TO PAYMENTS RECEIVED UNDER THE
SECURITIES BOTH CURRENTLY AND IN THE FUTURE.
Change of circumstances
Neither the delivery of this Prospectus or any other information incorporated by reference in the Prospectus, nor
any sale of Securities, shall create any impression that information in such documents relating to the Issuer is
correct at any time subsequent to the date of the Prospectus or that any other information supplied in connection
with the Securities or the Programme is correct as of any time subsequent to the date of the relevant document
4

Important information
containing the same (the foregoing being without prejudice to the Issuer's obligations under applicable rules and
regulations).
Representations
In connection with the listing and admission to trading of the Securities, no person has been authorised to give
any information or to make any representation not contained in or consistent with the Prospectus and, if given or
made, such information or representation must not be relied upon as having been authorised by the Issuer. The
Issuer does not accept responsibility for any information not contained in this Prospectus. This document does
not constitute, and may not be used for the purposes of, an offer or solicitation by anyone in any jurisdiction and
no action is being taken to permit an offering of the Securities or the distribution of this Prospectus in any
jurisdiction.
Calculations and determinations
Unless otherwise specified, all calculations and determinations in respect of the Securities shall be made by
Barclays Bank PLC (acting in such capacity, the "Determination Agent").
5

Table of Contents
TABLE OF CONTENTS
Page
SUMMARY .............................................................................................................................................. 7
This section provides for a summary of the key information contained within this Prospectus.
RISK FACTORS..................................................................................................................................... 22
This section sets out the principal risks inherent in investing in the Securities, including key risks in
respect of equity indices.
INFORMATION INCORPORATED BY REFERENCE ....................................................................... 39
This section incorporates selected financial information regarding the Issuer from other publicly
available documents.
HOW THE RETURN ON YOUR INVESTMENT IS CALCULATED ................................................ 44
This sections sets out worked examples of how the interest and redemption amounts are calculated
under a variety of scenarios.
SPECIFIC TERMS ................................................................................................................................. 47
This sections set out the specific terms and conditions in respect of the Securities.
IMPORTANT LEGAL INFORMATION............................................................................................... 58
This section provides important legal information in respect of the Securities.
GENERAL INFORMATION ................................................................................................................. 59
This section provides certain additional information in respect of the Securities.
6

Summary
SUMMARY
Summaries are made up of disclosure requirements known as 'elements'. These elements are numbered
in Sections A E (A.1 E.7).
This summary (the "Summary") contains all the elements required to be included in a summary for
these types of securities and issuer. Because some elements are not required to be addressed, there may
be gaps in the numbering sequence of the elements.
Even though an element may be required to be inserted in the Summary because of the type of
securities and issuer, it is possible that no relevant information can be given regarding the element. In
this case a short description of the element is included in the Summary after the words 'not applicable'.
Section A Introduction and warnings
A.1
Introduction
This Summary should be read as an introduction to the Prospectus. Any
and warnings
decision to invest in Securities should be based on consideration of the
Prospectus as a whole.
Where a claim relating to the information contained in the Prospectus is
brought before a court, the plaintiff might, under the national legislation of
the relevant Member State of the European Economic Area, have to bear the
costs of translating the Prospectus before the legal proceedings are initiated.
No civil liability shall attach to any responsible person solely on the basis of
this Summary, including any translation thereof, unless it is misleading,
inaccurate or inconsistent when read together with the other parts of the
Prospectus or it does not provide, when read together with the other parts of
the Prospectus, key information in order to aid investors when considering
whether to invest in the Securities.
A.2
Consent by the
Not Applicable; the Issuer does not consent to the use of the Prospectus for
Issuer to the
subsequent resales.
use of
prospectus in
subsequent
resale or final
placement of
Securities
Section B - Issuer
B.1
Legal and
The Securities are issued by Barclays Bank PLC (the "Issuer").
commercial
name of the
Issuer
B.2
Domicile and
The Issuer is a public limited company registered in England and Wales.
legal form of
the Issuer,
The principal laws and legislation under which the Issuer operates are laws
legislation
of England and Wales including the Companies Act 2006.
under which
the Issuer
operates and
country of
incorporation
of the Issuer
B.4b
Known trends
The business and earnings of the Issuer and its subsidiary undertakings
affecting the
(together, the "Bank Group" or "Barclays") can be affected by the fiscal or
Issuer and
other policies and other actions of various governmental and regulatory
7

Summary
industries in
authorities in the UK, EU, US and elsewhere, which are all subject to
which the
change, as a result, regulatory risk will remain a focus. A more intensive
Issuer operates
regulatory approach and enhanced requirements together with the uncertainty
(particularly in light of the UK's decision to withdraw from the EU) and
potential lack of international regulatory coordination as enhanced
supervisory standards are developed and implemented may adversely affect
the Bank Group's business, capital and risk management strategies and/or
may result in the Bank Group deciding to modify its legal entity structure,
capital and funding structures and business mix, or to exit certain business
activities altogether or not to expand in areas despite otherwise attractive
potential.
The most significant of the regulatory reforms affecting the Bank Group in
2018 is the creation of the ring-fenced bank under the structural reform
programme carried out by the ultimate holding company of the Bank Group
(Barclays PLC, together with its subsidiaries, the "Group").
There are several other significant pieces of legislation which will require
significant management attention, cost and resource which include:

Changes in prudential requirements, including the proposals for
amendment of the Capital Requirements Directive (CRD IV) and
the EU Bank Recovery and Resolution Directive (BRRD) which
may impact minimum requirements for own funds and eligible
liabilities (MREL), leverage, liquidity or funding requirements,
applicable buffers and/or add-ons to such minimum requirements
and risk weighted assets calculation methodologies all as may be set
by international, EU or national authorities from time to time.

The derivatives market has been the subject of particular focus for
regulators in recent years across the G20 countries and beyond, with
regulations introduced which require the reporting and clearing of
standardised over the counter ("OTC") derivatives and the
mandatory margining of non-cleared OTC derivatives. Reforms in
this area are ongoing with further requirements expected to be
implemented in the course of 2018.

The recast Markets in Financial Instruments Directive in Europe,
which came into force in January 2018, has fundamentally changed
the European regulatory framework, and entails significant
operational changes for market participants in a wide range of
financial instruments as well as changes in market structures and
practices.

The EU Benchmarks Regulation which also came into force in
January 2018 regulates the administration and use of benchmarks in
the EU. Compliance with this evolving regulatory framework entails
significant costs for market participants and is having a significant
impact on certain markets in which the Bank Group operates.

Other regulations applicable to swap dealers, including those
promulgated by the US Commodity Futures Trading Commission,
have imposed significant costs on the Bank Group's derivatives
business. These and any future requirements are expected to
continue to impact such business.
8

Summary
B.5
Description of
The Bank Group is a major global financial services provider.
the group and
the Issuer's
The Issuer is a wholly owned direct subsidiary of Barclays PLC, which is the
position within
ultimate holding company of the Bank Group.
the group
B.9
Profit forecast
Not Applicable: the Issuer has chosen not to include a profit forecast or
or estimate
estimate.
B.10
Nature of any
Not Applicable: the audit report on the historical financial information
qualifications
contains no such qualifications.
in audit report
on historical
financial
information
B.12
Selected key
Based on the Bank Group's audited financial information for the year ended
financial
31 December 2017, the Bank Group had total assets of £1,129,343 million
information;
(2016: £1,213,955 million), total net loans and advances of £401,762 million
no material
(2016: £436,417 million), total deposits of £467,332 million (2016:
adverse change £472,917 million), and total equity of £65,734 million (2016: £70,955
and significant
million) (including non-controlling interests of £1 million (2016: £3,522
change
million)). The profit before tax of the Bank Group for the year ended 31
statements
December 2017 was £3,166 million (2016: £4,383 million) after credit
impairment charges and other provisions of £2,336 million (2016: £2,373
million). The financial information in this paragraph is extracted from the
audited consolidated financial statements of the Issuer for the year ended 31
December 2017.
Based on the Bank Group's unaudited financial information for the six
months ended 30 June 2018, the Bank Group had total assets of £903,345
million (30 June 2017: £1,136,867 million), total net loans and advances of
£226,369 million (30 June 2017: £427,980 million), total deposits of
£279,438 million (30 June 2017: £488,162 million), and total shareholders'
equity of £48,192 million (30 June 2017: £66,167 million) (including non-
controlling interests of £2 million (30 June 2017: £84 million). The profit
before tax from continuing operations of the Bank Group for the six months
ended 30 June 2018 was £725 million (30 June 2017: £1,731 million) after
credit impairment charges and other provisions of £156 million (30 June
2017: £656 million). The financial information in this paragraph is extracted
from the unaudited condensed consolidated interim financial statements of
the Issuer for the six months ended 30 June 2018.
Not Applicable: there has been no significant change in the financial or
trading position of the Bank Group since 30 June 2018.
There has been no material adverse change in the prospects of the Issuer
since 31 December 2017.
B.13
Recent events
Not Applicable: there have been no recent events particular to the Issuer
particular to
which are to a material extent relevant to the evaluation of the Issuer's
the Issuer
solvency.
which are
materially
relevant to the
evaluation of
Issuer's
solvency
9

Summary
B.14
Dependency of
The whole of the issued ordinary share capital of the Issuer is beneficially
the Issuer on
owned by Barclays PLC, which is the ultimate holding company of the Bank
other entities
Group.
within the
group
The financial position of the Issuer is dependent on the financial position of
its subsidiary undertakings.
B.15
Description of
The Bank Group is a global consumer and wholesale bank offering products
the Issuer's
and services across personal, corporate and investment banking and wealth
principal
management, with a strong presence in the UK and the US.
activities
B.16
Description of
The whole of the issued ordinary share capital of the Issuer is beneficially
whether the
owned by Barclays PLC, which is the ultimate holding company of the Issuer
Issuer is
and its subsidiary undertakings.
directly or
indirectly
owned or
controlled and
by whom and
nature of such
control
B.17
Credit ratings
The short-term unsecured obligations of the Issuer are rated A-1 by S&P
assigned to the
Global Ratings Europe Limited, P-1 by Moody's Investors Service Ltd. and
Issuer or its
F1 by Fitch Ratings Limited and the long-term unsecured unsubordinated
debt securities
obligations of the Issuer are rated A by S&P Global Ratings Europe Limited,
A2 by Moody's Investors Service Ltd. and A by Fitch Ratings Limited. A
specific issue of Securities may be rated or unrated.
Ratings: This issue of Securities will not be rated.
Section C Securities
C.1
Type and class
The Securities are in the form of notes.
of Securities
being offered
Identification: Series number: NX000218027.
and/or
admitted to
Identification codes: ISIN: GB00B8SVW156.
trading
C.2
Currency
This issue of Securities will be denominated in pounds sterling ("GBP").
C.5
Description of
The Securities are not intended to be offered, sold or otherwise made
restrictions on
available to and should not be offered, sold or otherwise made available to
free
any retail investor in the European Economic Area.
transferability
of the
The Securities are offered and sold outside the United States to non-U.S.
Securities
persons in reliance on Regulation S under the Securities Act and must
comply with transfer restrictions with respect to the United States.
No offers or sales of any Securities are permitted and no resale or delivery of
any Securities may be made in or from any jurisdiction and/or to any
individual or entity except in circumstances which will result in compliance
with any applicable laws and regulations and which will not impose any
obligation on the Issuer and/or Barclays Bank PLC (the "Manager").
Subject to the above, the Securities will be freely transferable.
10