AI assistant
Barclays PLC — Capital/Financing Update 2011
Jun 9, 2011
5250_rns_2011-06-09_3b825633-4297-45f4-b3c1-eb41a9f7dfda.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Final Terms
BARCLAYS BANK PLC
(Incorporated with limited liability in England and Wales)
BARCLAYS CAPITAL (CAYMAN) LIMITED
(Incorporated with limited liability in the Cayman Islands)
GLOBAL STRUCTURED SECURITIES PROGRAMME
for the issue of Securities
BARCLAYS BANK PLC
EUR 20,000,000 Floating Rate Notes due 1 September 2023 (the "Notes")
Series 7095
under the Global Structured Securities Programme
Issue Price: 100 per cent. of par
This document constitutes the final terms of the Notes (the "Final Terms") described herein for the purposes of Article 5.4 of the Directive 2003/71/EC and is prepared in connection with the Structured Securities Programme established by Barclays Bank PLC (the "Bank") and Barclays Capital (Cayman) Limited ("BCCL") and is supplemental to and should be read in conjunction with the Base Prospectus dated 6 August 2010, as supplemented and amended from time to time, which constitutes a base prospectus (the "Base Prospectus") for the purpose of the Directive 2003/71/EC, save in respect of the Conditions which are extracted from the Base Prospectus dated 16 December 2005 (the "Original Offering Document"), as incorporated by reference in the Base Prospectus. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms, the Base Prospectus and the Original Offering Document. The Base Prospectus and the Original Offering Document are available for viewing during normal business hours at the registered office of the Issuer and the specified office of the Issue and Paying Agent for the time being in London and copies may be obtained from such office. Words and expressions defined in the Base Prospectus and not defined in this document shall bear the same meanings when used herein.
The Issuer accepts responsibility for the information contained in these Final Terms. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in these Final Terms is in accordance with the facts and does not contain anything likely to affect the import of such information.
Investors should refer to the sections headed "Risk Factors" in the Base Prospectus for a discussion of certain matters that should be considered when making a decision to invest in the Securities.
Final Terms dated 9 June 2011
The distribution of this document and the offer of the Securities in certain jurisdictions may be restricted by law. Persons into whose possession these Final Terms come are required by the Bank to inform themselves about and to observe any such restrictions. Details of selling restrictions for various jurisdictions are set out in "Purchase and Sale" in the Base Prospectus. In particular, the Securities have not been, and will not be, registered under the US Securities Act of 1933, as amended, and are subject to US tax law requirements. Trading in the Securities has not been approved by the US Commodity Futures Trading Commission under the US Commodity Exchange Act of 1936, as amended. Subject to certain exceptions, the Securities may not at any time be offered, sold or delivered in the United States or to US persons, nor may any US persons at any time trade or maintain a position in such Securities.
Part A Terms and Conditions of the Securities
The Securities shall have the following terms and conditions, which shall complete, modify and/or amend the Conditions which are extracted from the Original Offering Document, as incorporated by reference in the Base Prospectus.
| Parties | |
|---|---|
| Issuer: | Barclays Bank PLC |
| Guarantor: | N/A |
| Manager: | N/A |
| Determination Agent: | Barclays Bank PLC |
| Issue and Paying Agent: | The Bank of New York Mellon |
| Stabilising Manager: | N/A |
| Registrar: | N/A |
| CREST Agent: | N/A |
| Paying Agents: | N/A |
| Transfer Agent: | N/A |
| Exchange Agent: | N/A |
| Additional Agents: | N/A |
THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND THE SECURITIES COMPRISE BEARER SECURITIES THAT ARE SUBJECT TO US TAX LAW REQUIREMENTS. SUBJECT TO CERTAIN EXCEPTIONS, THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, US PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT ("REGULATION S")). THESE FINAL TERMS HAVE BEEN PREPARED BY THE ISSUER FOR USE IN CONNECTION WITH THE OFFER AND SALE OF THE SECURITIES OUTSIDE THE UNITED STATES TO NON-US PERSONS IN RELIANCE ON REGULATION S AND FOR LISTING OF THE SECURITIES ON THE RELEVANT STOCK EXCHANGE, IF ANY, AS STATED HEREIN. FOR A DESCRIPTION OF THESE AND CERTAIN FURTHER RESTRICTIONS ON OFFERS AND SALES OF THE SECURITIES AND DISTRIBUTION OF THESE FINAL TERMS, THE BASE PROSPECTUS AND THE SUPPLEMENTAL PROSPECTUSES SEE "PURCHASE AND SALE" IN THE BASE PROSPECTUS.
ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.
3
Provisions relating to the Notes
| 1. | Title of the Notes: | EUR 20,000,000 Floating Rate Notes due 1 September 2023 |
|---|---|---|
| 2. | Series: | 7095 |
| 3. | Currency of the Notes: | Euro ("EUR") |
| 4. | Aggregate principal amount of the Notes: |
EUR 20,000,000 |
| 5. | Denominations and number of Notes: | EUR 100,000 (200 Notes) |
| For the avoidance of doubt, each Note shall not be sub-divided into smaller denominations. |
||
| 6. | Form of Notes: | Bearer Notes |
| Temporary Global Note, exchangeable for a Permanent Global Note |
||
| 7. | Notes in definitive form to be issued: | Yes, in the limited circumstances set out in the Base Prospectus |
| 8. | Issue Date of the Notes: | 20 September 2006 |
| 9. | Issue Price of the Notes: | 100.00 per cent. of par |
| 10. | Relevant Stock Exchanges: | London Stock Exchange |
| 11. | Integral multiples of Notes required for transfer: |
N/A |
| 12. | Type of Notes and relevant Securities Note: |
Floating Rate Notes |
| Provisions relating to interest (if any) payable on the Notes | ||
| 13. | Interest payable on the Notes: | Yes |
| 14. | Interest Basis: | Floating Rate |
| 15. | Interest Rates - Fixed |
N/A |
| - Floating |
In respect of each Interest Period, an amount, payable on each Interest Payment Date, calculated as follows: |
|
| (Reference Rate + 0.10% per annum) | ||
| Provided that in respect of the first Interest Period only: |
||
| "Reference Rate" means 4.719 per cent. |
- Screen Rate Determination: Applicable
4
| (i) | Reference Rate: | In respect of each Interest Period (other than the first Interest Period), 12 months EURIBOR-Reuters, being the rate for deposits in EUR for a period of 12 months which appears on the Relevant Screen Page as of 11:00 a.m., Brussels time, on the Interest Determination Date. If the Reference Rate does not appear on the Relevant Screen Page as of 11:00 a.m., Brussels time, on the Interest Determination Date, then the Reference Rate for the Interest Determination Date will be determined by the Determination Agent in its sole discretion. For the avoidance of doubt, in respect |
|
|---|---|---|---|
| of the first Interest Period, the Reference Rate will be equal to 4.719 per cent. per annum. |
|||
| (ii) | Interest Determination Date: | Two TARGET Business Days prior to the first day of each Interest Period |
|
| (iii) | Relevant Screen Page: | Reuters Screen EURIBOR01 Page | |
| 17. | ISDA Determination: | N/A | |
| 18. | Amortisation Yield: | N/A | |
| 19. | Fixed Coupon Amount: | N/A | |
| 20. | Broken Coupon Amount: | N/A | |
| 21. | Minimum/Maximum Rates of Interest: | Maximum Rate of Interest: 5.40 per cent. per annum |
|
| 22. | Interest Payment Dates: | Annually in arrears on 1 March in each year, from and including 1 March 2009 up to and including 1 March 2023 and the Maturity Date. |
|
| 23. | Interest Commencement Date: | 3 March 2008 | |
| 24. | Interest Periods: | As set out in the Base Prospectus. | |
| For the avoidance of doubt, in respect of the Interest Period from and including 1 March 2023 to but excluding the Maturity Date no interpolation will be applicable. |
|||
| 25. | Day Count Fraction: | Actual/360 |
Provisions regarding redemption
| 26. | Exchange Rate Time: | N/A | |||
|---|---|---|---|---|---|
| 27. | Maturity Date: | 1 September 2023 | |||
| 28. | Early | Redemption occurrence of: |
following | the | Applicable |
| (i) | Issuer Tax Event: | Applicable | |||
| (ii) | Change in Law: | Applicable | |||
| (iii) | Hedging Disruption: | Applicable | |||
| (iv) | Increased Cost of Hedging: | Applicable | |||
| (v) | Asian Change in Law | Not Applicable | |||
| (vi) | Asian Hedging Disruption | Not Applicable | |||
| (vii) | Asian Increased Cost of Hedging |
Not Applicable | |||
| 29. | Early Redemption following the occurrence of a Guarantor Tax Event: |
N/A | |||
| 30. | Call Option: | N/A | |||
| 31. | Put Option: | N/A | |||
| 32. | Valuation Date: | N/A | |||
| 33. | Valuation Time: | N/A | |||
| 34. | Market Disruption Event: | N/A | |||
| (i) | Trading Disruption: | N/A | |||
| (ii) | Exchange Disruption: | N/A | |||
| (iii) | Early Closure: | N/A | |||
| 35. | (i) | Averaging Dates: | N/A | ||
| (ii) | Consequence of an Averaging Date being a Disrupted Day: |
N/A | |||
| 36. | Redemption Amount and the currency in which it will be paid: |
100 per cent. per Denomination | |||
| 37. | Early Redemption Amount and the currency in which it will be paid: |
In relation to an Early Redemption in accordance with Condition 5.4, an |
In relation to an Early Redemption in accordance with Condition 5.4, an amount as determined by the Determination Agent in its sole discretion.
7
-
- The maximum and minimum number of Business Days prior to the Early Redemption Date on which Issuer Redemption Notices and Special Redemption Notices must be given by the Issuer:
-
- Time for receipt of Early Redemption Notice and/or Noteholder's Notice:
-
- Procedures for giving Issuer Redemption Notice if other than as specified in Condition 6.3:
-
- Procedure for giving Special Redemption Notice if other than as specified in Condition 6.3:
-
- Basis for selecting Notes where Daily Maximum Amount is exceeded if other than on a pro rata basis: N/A
-
- Additional provisions relating to the redemption of the Notes: N/A
-
- Equity Linked Notes, Equity Basket Notes: N/A
-
- Single Index Notes, Basket of Indices Notes: N/A
-
Currency Linked Notes: N/A 48. Credit Linked Notes: N/A 49. Commodity Linked Notes: N/A
Provisions relating to settlement
| 50. | Settlement type: | Cash Settlement |
|---|---|---|
| 51. | Board Lot: | N/A |
| 52. | Currency in which cash settlement will be made |
EUR |
| 53. | Early Redemption Payment Date: | As defined in Condition 25 |
| 54. | Clearing System: | Euroclear |
| Clearstream, Luxembourg |
As set out in the Base Prospectus
10:00 a.m. London time, as set out in the Base Prospectus
- Redemption Notice Time: 10.00 a.m. Brussels time (in the case of Euroclear) (or 11.00 a.m. if delivered by EUCLID) and 10.00 a.m. Luxembourg time (in the case of Clearstream, Luxembourg)
N/A
N/A
| 55. | Security Delivery Date: | N/A | |
|---|---|---|---|
| -- | ----- | ------------------------- | ----- |
Definitions
| 56. | Definition of Business Day: | London and TARGET |
|---|---|---|
| 57. | Definition of Exchange Business Day: | As defined in Condition 25 |
| 58. | Definition of Maturity Notice Time: | As defined in Condition 25 |
| 59. | Definition of Issuer Tax Event: | As defined in Condition 12 |
| 60. | Definition of Guarantor Tax Event: | N/A |
Selling restrictions and provisions relating to certification
| 61. | Applicable US Commodities | ||
|---|---|---|---|
| Restrictions: |
- Non-US Selling Restrictions: As described in the Base Prospectus, in addition to:
No action has been taken or will be taken that would permit a public offering of the Notes or possession or distribution of any offering material in relation to the Notes in any jurisdiction where action for that purpose is required. No offers, sales, re-sales or deliveries of any Notes or distribution of any offering material relating to the Notes, directly or indirectly, may be made in or from any jurisdiction except in circumstances which will result in compliance with any applicable laws and regulations and which will not impose any obligation on the Issuer, the Dealer and the Determination Agent.
The offering of the Notes has not been cleared by CONSOB (the Italian Securities Exchange Commission) pursuant to Italian securities legislation and, accordingly, no Notes may be offered, sold or delivered, nor may copies of the Information Memorandum or of any other document relating to the Notes be distributed in the Republic of Italy, except:
(a) to professional investors
(operatori qualificati), as defined in Article 31, second paragraph, of CONSOB Regulation No. 11522 of 1st July, 1998, as amended; or
(b) in circumstances which are exempted from the rules on solicitation of investments pursuant to Article 100 of Legislative Decree No. 58 of 24th February, 1998 (the "Financial Services Act") and Article 33, first paragraph, of CONSOB Regulation No. 11971 of 14th May, 1999, as amended.
Any offer, sale or delivery of the Notes or distribution of copies of the Information Memorandum or any other document relating to the Notes in the Republic of Italy under (a) or (b) above must be:
- (i) made by an investment firm, bank or financial intermediary permitted to conduct such activities in the Republic of Italy in accordance with the Financial Services Act and Legislative Decree No. 385 of 1st September, 1993 (the "Banking Act"); and
- (ii) in compliance with Article 129 of the Banking Act and the implementing guidelines of the Bank of Italy, as amended from time to time, pursuant to which the issue or the offer of securities in the Republic of Italy may need to be preceded and followed by an appropriate notice to be filed with the Bank of Italy depending, inter alia, on the aggregate value of the securities issued or offered in the Republic of Italy and their characteristics; and
- (iii) in compliance with any other
applicable laws and regulations.
- Certification of non-US status: TEFRA D Applicable
General
-
- Applicable Business Day Convention: Modified Following Business Day
-
- Relevant Clearing Systems, Rules and appropriate codes:
Convention
Euroclear
Clearstream, Luxembourg
ISIN: XS0267822285
Common Code: 026782228
N/A
-
- (i) Reuters page(s) (or other reference source) from which the exchange rate for currency conversion will be taken when calculating the Redemption Amount and/or the Early Redemption Amount, or
- (ii) the Reference Bank or Central Bank quoting the exchange rate for conversion pursuant to Condition 6.9(a) N/A
-
- Any modifications to the Master Subscription Agreement and/or Master Issue and Paying Agency Agreement:
-
- The offices (if any) in addition to the principal office of the Issue and Paying Agent where (i) the latest annual report and accounts, of the Issuer, Guarantor and semi-annual interim reports of the Guarantor and (ii) copies of the Master Issue and Paying Agency Agreement and the Base Prospectus and this Supplement will be available in English for holders of the Notes during the term of the Notes:
-
- Any Conditions additional to, or modified from, those set forth in the Base Prospectus: N/A
N/A
N/A
PART B - OTHER INFORMATION
| 1. | LISTING | ||
|---|---|---|---|
| (i) Listing: (ii) Admission to trading: |
London | ||
| Application is expected to be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the London Stock Exchange's Regulated Market on or around 7 June 2011. |
|||
| (iii) | Estimate of total expenses related to admission to trading: |
GBP 300 | |
| 2. | RATINGS | ||
| Ratings: | The Notes have not been individually rated. | ||
| 3. | NOTIFICATION | ||
| Not Applicable | |||
| 4. | INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE | ||
| Save as discussed in "Purchase and Sale", so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer. |
|||
| 5. | REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES | ||
| (i) | Reasons for the offer | General Funding | |
| (ii) | Estimated net proceeds: | EUR 20,000,000 | |
| (iii) | Estimated total expenses: | Not Applicable | |
| 6. | FIXED RATE NOTES ONLY - YIELD | ||
| Indication of yield: | Not Applicable |
7. FLOATING RATE NOTES ONLY - HISTORIC INTEREST RATES
Not Applicable
8. INDEX-LINKED OR OTHER VARIABLE-LINKED NOTES ONLY - PERFORMANCE OF INDEX/FORMULA/OTHER VARIABLE, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT AND ASSOCIATED RISKS AND OTHER INFORMATION CONCERNING THE UNDERLYING
Not Applicable
9. DUAL CURRENCY NOTES ONLY - PERFORMANCE OF RATE OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF INVESTMENT
Not Applicable
10. OPERATIONAL INFORMATION
| Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking Societe Anonyme and the relevant identification number(s): |
Not Applicable |
|---|---|
| Delivery: | Delivery free of payment |
| New Global Note | No |
| Names and addresses of additional Paying Agents(s) (if any): |
Not Applicable |
| Intended to be held in a manner which would allow Eurosystem eligibility: |
No |