Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Barclays PLC Capital/Financing Update 2014

Sep 5, 2014

5250_rns_2014-09-05_f19d4c92-5c16-4841-a9f0-67e5b11a7a96.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

BARCLAYS BANK PLC

(Incorporated with limited liability in England and Wales)

GBP 1,500,000 Warrant Linked Securities due October 2020 pursuant to the Global Structured Securities Programme (the "Tranche 1 Securities")

Issue Price: 100 per cent.

This document constitutes the final terms of the Securities (the "Final Terms") described herein for the purposes of Article 5.4 of the Prospectus Directive and is prepared in connection with the Global Structured Securities Programme established by Barclays Bank PLC (the "Issuer"). These Final Terms are supplemental to and should be read in conjunction with the GSSP Base Prospectus 5 dated 10 June 2014 as supplemented from time to time, which constitutes a base prospectus (the "Base Prospectus") for the purpose of the Prospectus Directive. Full information on the Issuer and the offer of the Securities is only available on the basis of the combination of these Final Terms and the Base Prospectus. A summary of the individual issue of the Securities is annexed to these Final Terms. Words and expressions defined in the Base Prospectus and not defined in this document shall bear the same meanings when used herein.

The Base Prospectus, and any supplements thereto, are available for viewing at http://irreports.barclays.com/prospectuses-and-documentation/structured-securities/prospectuses and 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.

Barclays

Final Terms dated 4 September 2014

Part A – CONTRACTUAL TERMS

1. a. Series number: NX000156654
b. Tranche number: 1
2. Currency: GBP
3. Securities:
a. Aggregate Nominal Amount as at
the Issue Date:
(i)
Tranche:
GBP 1,500,000
(ii)
Series:
GBP 1,500,000
b. Specified Denomination: GBP 1.00
c. Minimum Tradable Amount: Not Applicable
d. Calculation Amount: Specified Denomination
4. Issue Price: 100 per cent. of par
5. Issue Date: 4 September 2014
6. Scheduled Redemption Date: 7 October 2020
7. Warrant linked Securities:
(i) Underlying Warrant(s) and
Underlying Warrant Reference
Asset(s):
A Warrant (an "Underlying Warrant") linked to
the FTSE 100 Index (the "Underlying Warrant
Reference Asset") issued by Barclays Bank PLC
(ISIN:
GB00B8MNLX21;
Series
Number:
NX000156655)
(ii) Final Valuation Date: 30 September 2020, subject as in General
Condition 5 (c) (Final Redemption – Relevant
Defined Terms)
(iii) Valuation Time: As specified in General Condition 5 (c) (Final
Redemption – Relevant Defined Terms)
8. Form of Securities: Bearer Securities
Permanent Global Security
NGN Form: Applicable
CGN Form: Not Applicable
CDIs: Applicable
9. Trade Date: 28 August 2014
10. Early Redemption Notice Period Number: As
specified
in
General
Condition
22.1
(Definitions)
11. Additional Business Centre(s): Not Applicable
12. Determination Agent: Barclays Bank PLC
13. Common Safekeeper: Clearstream
14. a. Names of Managers: Barclays Bank PLC

b. Date of underwriting agreement: Not Applicable

Part B - OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING Application is expected to be made by the Issuer (or on its behalf) for the Securities to be listed on the Official List and admitted to trading on the Regulated Market of the London Stock Exchange on or around the Issue Date.

2. RATINGS

Ratings: The Securities have not been individually rated.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE OFFER

Save for any trading and market-making activities of the Issuer and/or its affiliates in the Underlying Warrant, the hedging activities of the Issuer and/or its affiliates and the fact that the Issuer is the Determination Agent in respect of the Securities and the determination agent in respect of the Underlying Warrant and the determination agent in respect of the Underlying Warrant, so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.

4. REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer: Making profit and/or hedging purposes

(ii) Estimated net proceeds: Not Applicable
------ ------------------------- ----------------

(iii) Estimated total expenses: Not Applicable

5. PERFORMANCE OF THE UNDERLYING WARRANTS AND OTHER INFORMATION CONCERNING THE UNDERLYING WARRANTS

The value of the Securities will depend upon the performance of the Underlying Warrant which is:

A Warrant linked to the FTSE 100 Index issued by Barclays Bank PLC (ISIN: GB00B8MNLX21; Series Number: NX000156655).

The Warrant Value in respect of the Underlying Warrant will be published on each Business Day on GB00B8MNLX21=RIC.

Details of the past performance and volatility of the Underlying Warrant Reference Asset may be obtained from Reuters page .FTSE. The terms and conditions of the Underlying Warrant are available on http://group.barclays.com/prospectuses-anddocumentation/structured-securities/final-terms

Index Disclaimer: FTSE® 100 Index

6. OPERATIONAL INFORMATION

  • (i) ISIN Code: XS1087456064
  • (ii) Common Code: 108745606
  • (iii) Name(s) and address(es) of any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant identification number(s): Not Applicable

(iv) Delivery: Delivery free of payment.

  1. TERMS AND CONDITIONS OF THE OFFER Authorised Offer(s)

(ii) Name(s) and address(es), to the extent

known to the Issuer, of the placers in the various countries where the offer takes place (together the "Authorised

Offeror(s"):

(i) Public Offer: An offer of the Notes may be made, subject to the conditions set out below by the Authorised Offeror(s) (specified in (ii) immediately below) other than pursuant to Article 3(2) of the Prospectus Directive in the Public Offer Jurisdiction(s) (specified in (iii) immediately below) during the Offer Period (specified in (iv) immediately below) subject to the conditions set forth in the Base Prospectus and in (v) immediately below

Each financial intermediary specified in (a) and (b) below:

  • (a) Specific consent: Not Applicable; and
  • (b) General consent: Applicable: each financial intermediary which (a) is authorised to make such offers under Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments, including under any applicable implementing measure in each relevant jurisdiction and (b) accepts such offer by publishing on its website the Acceptance Statement.
  • (iii) Jurisdiction where the offer make take place (together, the "Public Offer Jurisdiction"):
  • (iv) Offer period for which use of the Base Prospectus is authorised by the Authorised Offeror(s):
  • (v) Other conditions for use of the Base Prospectus by the Authorised Offeror(s):

Other terms and conditions of the offer

(ii) Total amount of offer: Aggregate Nominal Amount

The United Kingdom

From and including 4 September 2014 to but excluding 30 September 2014 (the "Offer Period")

Not Applicable

(iii) Conditions to which the offer is subject: The Issuer reserves the right to withdraw the offer for Securities at any time on or prior to the end of the Offer Period.

Following withdrawal of the offer, if any application has been made by any potential

(i) Offer Price: The Issue Price

  • (iv) Time period, including any possible amendments, during which the offer will be open and description of the application process:

(vi) Details of the minimum and/or maximum amount of application:

(vii) Description of possibility to reduce subscriptions and manner for refunding excess amount paid by applicants:

(viii) Details of method and time limits for paying up and delivering the Securities:

(ix) Manner in and date on which results of the offer are to be made public:

(x) Procedure for exercise of any right of pre-emption, negotiability of subscription rights and treatment of subscription rights not exercised:

(xi) Process for notification to applicants of the amount allotted and indication whether dealing may begin before investor, each such potential investor shall not be entitled to subscribe or otherwise acquire the Securities and any applications will be automatically cancelled and any purchase money will be refunded to the applicant by the Authorised Offeror in accordance with the Authorised Offeror's usual procedures.

Investors will be notified by the Authorised Offeror of their allocations of Securities and the settlement arrangements in respect thereof.

(v) Description of the application process: An offer of the Securities may be made by the Manager or the Authorised Offeror other than pursuant to Article 3(2) of the Prospectus Directive in the Public Offer Jurisdiction during the Offer Period

Applications for the Securities can be made in the Public Offer Jurisdiction through the Authorised Offeror during the Offer Period. The Securities will be placed into the Public Offer Jurisdiction by the Authorised Offeror. Distribution will be in accordance with the Authorised Offeror's usual procedures, notified to investors by the Authorised Offeror.

The minimum and maximum amount of application from the Authorised Offeror will be notified to investors by the Authorised Offeror.

Not Applicable

Investors will be notified by the Authorised Offeror of their allocations of Securities and the settlement arrangements in respect thereof.

Investors will be notified by the Authorised Offeror of their allocations of Securities and the settlement arrangements in respect thereof.

Not Applicable

Each investor will be notified by the Authorised Offeror of its allocation of Securities at the time of such investor's application.

(xii) Amount of any expenses and taxes specifically charged to the subscriber or purchaser:

notification is made: No dealings in the Securities may take place prior to the Issue Date.

Apart from the Offer Price, the Issuer is not aware of any expenses and taxes specifically charged to the subscriber or purchaser.

Prior to making any investment decision, investors should seek independent professional advice as they deem necessary.

(xiii) Name(s) and address(es), to the extent known to the Issuer, of the placers in the various countries where the offer takes place:

Not Applicable

ISSUE SPECIFIC SUMMARY

Section A – Introduction and warnings
A.1 Introduction
and warnings
This Summary should be read as an introduction to the Base Prospectus. Any
decision to invest in Securities should be based on consideration of the Base
Prospectus as a whole, including any information incorporated by reference, and
read together with the Final Terms.
Where a claim relating to the information contained in the Base 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 Base 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 Base Prospectus or it
does not provide, when read together with the other parts of the Base Prospectus,
key information in order to aid holders when considering whether to invest in the
Securities.
A.2 Consent by
the Issuer to
the use of
prospectus in
subsequent
resale or final
The Issuer may provide its consent to the use of the Base Prospectus and Final Terms
for subsequent resale or final placement of Securities by financial intermediaries,
provided that the subsequent resale or final placement of Securities by such financial
intermediaries is made during the offer period specified in the Final Terms. Such
consent may be subject to conditions which are relevant for the use of the Base
Prospectus.
placement of
Securities,
indication of
The Issuer consents to the use of the Base Prospectus and these Final Terms with
respect to the subsequent resale or final placement of Securities (a "Public Offer")
which satisfies all of the following conditions:
offer period
and
(a)
the Public Offer is only made in the United Kingdom;
conditions to
consent for
subsequent
(b)
the Public Offer is only made during the period from and including 4
September 2014, to but excluding, 30 September 2014 (the "Offer Period");
and
resale or final
placement,
and warning
(c)
the Public Offer is only made by any financial intermediary which is (i)
authorised to make such offers under the Markets in Financial Instruments
Directive (Directive 2004/39/EC) and (ii) has published on its website that
it is using the Base Prospectus in accordance with the Issuer's consent and
the conditions attached thereto (an "Authorised Offeror").
Information on the terms and conditions of an offer by any Authorised Offeror is to
be provided at the time of that offer by the Authorised Offeror.
Section B - Issuer
B.1 Legal and
commercial
name of the
Issuer
The Securities are issued by Barclays Bank PLC (the "Issuer")
B.2 Domicile and
legal form of
the Issuer,
legislation
The Issuer is a public limited company registered in England and Wales. The Issuer
was incorporated on 7 August 1925 under the Colonial Bank Act 1925 and, on 4
October 1971, was registered as a company limited by shares under the Companies
Acts 1948 to 1967. Pursuant to The Barclays Bank Act 1984, on 1 January 1985, the
under which Issuer was re-registered as a public limited company.
the Issuer
operates and
country of
incorporation
of Issuer
The principal laws and legislation under which the Issuer operates are the laws of
England and Wales including the Companies Act.
B.4b Known
trends
affecting the
Issuer and
industries in
which the
Issuer
operates
The business and earnings of the Issuer and its subsidiary undertakings (together, the
"Bank Group" or "Barclays") can be affected by the fiscal or other policies and other
actions of various governmental and regulatory authorities in the UK, EU, US and
elsewhere, which are all subject to change. The regulatory response to the financial
crisis has led and will continue to lead to very substantial regulatory changes in the
UK, EU and US and in other countries in which the Bank Group operates. It has also
(amongst other things) led to (i) a more assertive approach being demonstrated by
the authorities in many jurisdictions; and (ii) enhanced capital and liquidity
requirements (for example pursuant to the Capital Requirements Directive 4). Any
future regulatory changes may restrict the Bank Group's operations, mandate certain
lending activity and impose other, significant compliance costs.
Known trends affecting the Issuer and the industry in which the Issuer operates
include:

continuing political and regulatory scrutiny of the banking industry which is
leading to increased or changing regulation that is likely to have a
significant effect on the industry;

general changes in regulatory requirements, for example, prudential rules
relating to the capital adequacy framework and rules designed to promote
financial stability and increase depositor protection;

the US Dodd-Frank Wall Street Reform and Consumer Protection Act, which
contains
far
reaching
regulatory
reform
(including
restrictions
on
proprietary trading and fund-related activities (the so-called 'Volcker
rule'));

recommendations by the Independent Commission on Banking including: (i)
that the UK and EEA retail banking activities of the largest UK banks should
be placed in a legally, operationally, and economically separate independent
entity (so-called 'ring-fencing'); (ii) statutory depositor preference in
insolvency; and (iii) a reserve power for the Prudential Regulatory Authority
to enforce full separation of the retail operations of UK banks to which the
reforms apply under certain circumstances;

investigations by the Office of Fair Trading into Visa and MasterCard credit
and debit interchange rates, which may have an impact on the consumer
credit industry;

investigations by (i) regulatory bodies in the UK, EU and US into submissions
made by the Issuer and other panel members to the bodies that set various
interbank
offered rates such as the London Interbank Offered Rate
("LIBOR") and the Euro Interbank Offered Rate ("EURIBOR"); and (ii)
regulatory bodies in the UK and US into historical practices with respect to
ISDAfix, amongst other benchmarks; and

changes in competition and pricing environments.
B.5 Description The Bank Group is a major global financial services provider.
of the group The whole of the issued ordinary share capital of the Issuer is beneficially owned by
and the Barclays PLC, which is the ultimate holding company of the Bank Group.
Issuer's
position
within the
group
B.9 Profit Not Applicable; the Issuer has chosen not to include a profit forecast or estimate.
forecast or
estimate
B.10 Nature of any Not Applicable; the audit report on the historical financial information contains no
qualifications 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 31
financial December 2013, restated to reflect the offsetting amendments to IAS 32, the Bank
information; Group had total assets of £1,344,201m (2012 (restated): £1,512,777m), total net
No material loans and advances of £474,059m (2012 (restated): £472,809m), total deposits of
adverse £487,647m (2012 (restated): £ 468,262m), and total shareholders' equity of
change and £63,220m (2012: £59,923m) (including non-controlling interests of £2,211m (2012:
no significant £2,856m)). The profit before tax from continuing operations of the Bank Group for
change
statements
the year ended 31 December 2013 was £2,885m (2012: £650m) after credit
impairment charges and other provisions of £3,071m (2012: £3,340m). The financial
information in this paragraph is extracted from the audited consolidated financial
statements of the Issuer for the year ended 31 December 2013.
Based on the Bank Group's unaudited financial information for the six months ended
30 June 2014, the Bank Group had total assets of £1,315,492m (30 June 2013
(restated): £1,568,544m), total net loans and advances of £486,385m (30 June 2013
(restated): £522,026m), total deposits of £505,873m (30 June 2013 (restated):
£541,671m), and total shareholders' equity of £65,119m (30 June 2013: £59,394m)
(including non-controlling interests of £ 2,130m (30 June 2013: £2,620m)). The
profit before tax from continuing operations of the Bank Group for the six months
ended 30 June 2014 was £2,504m (30 June 2013: £1,648m) after credit impairment
charges and other provisions of £1,086m (30 June 2013: £1,631m). The financial
information in this paragraph is extracted from the unaudited consolidated financial
statements of the Issuer for the six months ended 30 June 2014 and the unaudited
consolidated financial statements of the Issuer for the six months ended 30 June
2013 restated to reflect the offsetting amendments to IAS 32.
There has been no material adverse change in the prospects of the Issuer since
31 December 2013.
Not Applicable: there has been no significant change in the financial or trading
position of the Bank Group since 30 June 2014.
B.13 Recent On 30 July 2014 Barclays PLC announced that the execution of the plan to meet the
events 3% PRA leverage ratio by 30 June 2014 had been successful, by reporting the
particular to following ratios: a fully loaded CRD IV CET1 ratio of 9.9% and a PRA leverage ratio of
the Issuer 3.4% as at 30 June 2014.
which are
materially
relevant to
the
evaluation of
Issuer's
solvency
B.14 Dependency
of the Issuer
The whole of the issued ordinary share capital of the Issuer is beneficially owned by
Barclays PLC, which is the ultimate holding company of the Bank Group.
on other
entities
within the
group
The financial position of the Issuer is dependent on the financial position of its
subsidiary undertakings.
B.15 Description
of the Issuer's
principal
activities
The Bank Group is a major global financial services provider engaged in retail and
commercial banking, credit cards, investment banking, wealth management and
investment management services with an extensive international presence in Europe,
the United States, Africa and Asia.
B.16 Description The whole of the issued ordinary share capital of the Issuer is beneficially owned by
of whether Barclays PLC, which is the ultimate holding company of the Issuer and its subsidiary
the Issuer is undertakings.
directly or
indirectly
owned or
controlled
and by whom
and nature of
such control
Section C - Securities
C.1 Type and class Securities described in this Summary (the "Securities") are derivative securities and
of securities are issued as notes.
being offered
and/or The Securities will not bear interest.
admitted to
trading, and
security
identification
If the Securities have not redeemed early they will redeem on the scheduled
redemption date and the amount paid will be a redemption amount that is linked to
the change in value of one or more specified warrants which may fluctuate up or
down depending on the performance of the reference asset(s) to which they are
linked.
Securities will be cleared through a clearing system and may be held in bearer form.
Certain Securities may be in dematerialised and uncertificated book-entry form. Title
to cleared Securities will be determined by the books of the relevant clearing system.
Securities will be issued in one or more series (each a "Series") and each Series may
be issued in tranches (each a "Tranche") on the same or different issue dates. The
Securities of each Series are intended to be interchangeable with all other Securities
of that Series.
Each Series will be allocated a unique Series number and an
identification code.
The Securities are transferable obligations of the Issuer that can be bought and sold
by investors in accordance with the terms and conditions set out in the Base
Prospectus as completed by the final terms document (the "Final Terms").
Form: The Securities will initially be issued in global bearer form and may be
exchanged for definitive securities if the clearing system ceases doing business, or if
the Issuer fails to make payments when due. Interests in the Securities will be
constituted through the issuance of dematerialised depository interests ("CDIs"),
issued, held, settled and transferred through Euroclear UK & Ireland Limited
(formerly known as CRESTCO Limited) ("CREST).
Identification: Series Number: NX000156654; Tranche Number: 1
Identification Codes: ISIN Code: XS1087456064; Common Code: 108745606.
Governing Law: The Securities will be governed by English law.
C.2 Currency Subject to compliance with all applicable laws, regulations and directives, Securities
may be issued in any currency.
The Securities will be denominated in pounds sterling ("GBP").
C.5 Description
of
restrictions
on free
transferabilit
Securities are offered and sold outside the United States to non-US persons in
reliance on 'Regulation S' and must comply with transfer restrictions with respect to
the United States. Securities held in a clearing system will be transferred in
accordance with the rules, procedures and regulations of that clearing system.
Subject to the above, the Securities will be freely transferable.
y of the
Securities
C.8 Description
of rights
attached to
the Securities
Rights: Each Security includes a right to a potential return and an amount payable on
redemption, together with certain ancillary rights such as the right to receive notice
of certain determinations and events and to vote on proposed amendments to the
terms of the Securities.
and
limitations of
those rights;
Taxation: All payments in respect of the Securities shall be made without
withholding or deduction for or on account of any UK taxes unless such withholding
or deduction is required by law.
ranking of
the Securities
Events of default: If the Issuer fails to make any payment due under the Securities or
breaches any other provision of the Securities (and, in each case, such failure is not
remedied within 30 days) or the Issuer is subject to a winding-up order (other than in
connection with a scheme of reconstruction, merger or amalgamation), the
Securities will become immediately due and payable, upon notice being given by the
holder.
Limitations to rights:
Notwithstanding that the Securities are linked to the
performance of the underlying asset(s), Holders do not have any rights in respect of
the underlying assets(s). The terms and conditions of the Securities contain
provisions for calling meetings of holders to consider matters affecting their interests
generally and these provisions permit defined majorities to bind all holders, including
holders who did not attend and vote at the relevant meeting and holders who voted
in a manner contrary to the majority. Further, in certain circumstances, the Issuer
may amend the terms and conditions of the Securities, without the holders' consent.
The terms and conditions of the Securities permit the Issuer and the Determination
Agent (as the case may be), on the occurrence of certain events and in certain
circumstances, without the holders' consent, to make adjustments to the terms and
conditions of the Securities, to redeem the Securities prior to maturity, (where
applicable) to postpone valuation of the underlying asset(s) or scheduled payments
under the Securities, to change the currency in which the Securities are
denominated, to substitute the Issuer with another permitted entity subject to
certain conditions, and to take certain other actions with regard to the Securities and
the underlying asset(s) (if any).
Ranking: The Securities are direct, unsubordinated and unsecured obligations of the
Issuer and rank equally among themselves.
C.11 Listing and
admission to
Securities may be listed and admitted to trading on a regulated market in the United
Kingdom.
trading Application is expected to be made by the Issuer to list the Securities on the official
list of the UK Listing Authority and admit the Securities to trading on the regulated
market of the London Stock Exchange with effect from 4 September 2014.
C.15 Description
of how the
value of the
investment is
affected by
the value of
The return on, and value of, the Securities will be linked to changes in the value of
the warrants issued by Barclays Bank PLC (ISIN: GB00B8MNLX21, Series Number:
NX000156655, the "Underlying Warrant", the value of which is dependent on the
performance of the FTSE 100 Index ("Underlying Warrant Reference Asset").
Interest
the The Securities will not bear interest.
underlying
instrument
Final Redemption
The Securities are scheduled to redeem on 7 October 2020 by payment by the Issuer
of an amount in GBP for each GBP 1.00 in nominal amount of the Securities equal to
an amount determined by the Determination Agent in good faith and in a
commercially reasonable manner as GBP 1.00 multiplied by an amount equal to the
value of the Underlying Warrant on 30 September 2020, being the final valuation
date, divided by the value of the Underlying Warrant on 4 September 2014, being the
initial valuation date, the final valuation date being subject to certain delay
provisions if any relevant date for valuation is delayed in accordance with the terms
of the Underlying Warrant.
The greater the value of the Underlying Warrant on the final valuation date (as
compared to the value of the Underlying Warrant on the initial valuation date), the
greater the redemption amount payable on the Securities. If the value of the
Underlying Warrant on the final valuation date is below the value of the Underlying
Warrant on the initial valuation date the final redemption amount will be less than
the amount invested and could be as low as zero.
Early Redemption
Securities may at the option of the Issuer (in the case of (i) or (ii)) or shall (in the
case of (iii)) be redeemed earlier than the scheduled redemption date (i) if
performance becomes unlawful or physically impracticable, (ii) following the
occurrence of a change in applicable law, a currency disruption event, an
extraordinary market disruption or a tax event affecting the Issuer's ability to fulfil its
obligations under the Securities) or (iii) following the occurrence of (a) the
cancellation or termination of the Underlying Warrant (other than by scheduled
exercise or automatic exercise pursuant to its terms) or (b) a specified early
cancellation event in respect thereof.
In each case, the amount due in respect of the Calculation Amount for each Security
will be an amount determined by the Determination Agent in good faith and in a
commercially reasonable manner on the same basis as that which would have
determined the amount due on final redemption except that the final value in
respect of any Underlying Warrant shall be its value as of the day on which the
disruption or termination event, event of default, unlawfulness or physical
impracticability, as the case may be, occurs.
The value of the Underlying Warrant will be published on each Business Day on
GB00B8MNLX21=RIC. Details of the past and future performance and the volatility of
the Underlying Warrant Reference Asset may be obtained from Reuters page .FTSE
C.16 Expiration or
maturity date
of the
securities
The Securities are scheduled to redeem on the scheduled redemption date. Such
scheduled redemption date may be delayed if the determination of any value used to
calculate an amount payable under the Securities is delayed (including where the
valuation of any Underlying Warrant is delayed in accordance with its terms).
The scheduled redemption date of the Securities will be 7 October 2020.
C.17 Settlement
procedure
Securities will be delivered on the specified issue date either against payment of the
issue price or free of payment of the issue price of the Securities. Securities may be
cleared and settled through Euroclear, Clearstream or CREST.
Securities will be delivered on 4 September 2014 (the "Issue Date") free of payment
of the issue price of the Securities.
The Securities are cleared and settled through Euroclear/Clearstream.
Interests in the Securities will be constituted though the issuance of CDIs, issued,
held, settled and transferred through CREST, representing interests in the Securities
underlying the CDIs. CDIs are independent securities under English law and will be
issued by Barclays Bank PLC. Holders of CDIs will not be entitled to deal in the
Securities directly and all dealings in the Securities must be effected through CREST
in relation to the holding of CDIs.
C.18 Description
of how the
return on
derivative
Securities
takes place
The value of and return (if any) on the Securities will be linked to changes in the
value of the Underlying Warrant, the value of which is dependent on the
performance of the Underlying Warrant Reference Assets.
C.19 Final
reference
price of
The amount payable in respect of the Securities will be calculated using the value of
the Underlying Warrant on 4 September 2014 (the initial valuation date) and the
value of the Underlying Warrant on 30 September 2020 (the final valuation date).
underlying The value of the Underlying Warrant on the final valuation date will be determined
by the Determination Agent taking into account the applicable cash or physical
settlement amount (as applicable) due on exercise of such Underlying Warrant.
C.20 Type of
underlying
Securities issued under the Base Prospectus will be derivative securities, reflecting
the fact that the repayment of the Securities will be linked to one or more underlying
warrants, the value of which may fluctuate up or down depending on the
performance of one or more specified reference assets.
Amounts payable on redemption of the Securities will be determined by reference to
the
Underlying
Warrant
(ISIN:
GB00B8MNLX21).
Information
on
http://group.barclays.com/prospectuses-and-documentation/structured
securities/final-terms.
Section D – Risks
D.2 Key
information
Credit risk: The Issuer is exposed to the risk of suffering loss if any of its customers,
clients or market counterparties fails to fulfil its contractual obligations. The Issuer
on the key may also suffer loss where the downgrading of an entity's credit rating causes a fall in
risks that are the value of the Issuer's investment in that entity's financial instruments.
specific to the Weak or deteriorating economic conditions negatively impact these counterparty
Issuer and credit-related risks. In recent times, the economic environment in the Issuer's
main business markets (being Europe and the United States) has been marked by
generally weaker than expected growth, increased unemployment, depressed
housing prices, reduced business confidence, rising inflation and contracting GDP.
Operations in the Eurozone remain affected by the ongoing sovereign debt crisis, the
stresses being exerted on the financial system and the risk that one or more
countries exit the Euro. The current absence of a predetermined mechanism for a
member state to exit the Euro means that it is not possible to predict the outcome of
such an event and to accurately quantify the impact of such event on the Issuer's
profitability, liquidity and capital. If some or all of these conditions persist or worsen,
they may have a material adverse effect on the Issuer's operations, financial
condition and prospects.
Liquidity risk: The Issuer is exposed to the risk that it may be unable to meet its
obligations as they fall due as a result of a sudden, and potentially protracted,
increase in net cash outflows. These outflows could be principally through customer
withdrawals, wholesale counterparties removing financing, collateral posting
requirements or loan draw-downs.
Capital risk: The Issuer may be unable to maintain appropriate capital ratios, which
could lead to: (i) an inability to support business activity; (ii) a failure to meet
regulatory requirements; and/or (iii) credit ratings downgrades. Increased regulatory
capital requirements and changes to what constitutes capital may constrain the
Issuer's planned activities and could increase costs and contribute to adverse impacts
on the Issuer's earnings.
Legal and regulatory-related risk: Non-compliance by the Issuer with applicable
laws, regulations and codes relevant to the financial services industry could lead to
fines, public reprimands, damage to reputation, increased prudential requirements,
enforced suspension of operations or, in extreme cases, withdrawal of authorisations
to operate.
Reputation risk: Reputational damage reduces –
directly or indirectly –
the
attractiveness of the Issuer to stakeholders and may lead to negative publicity, loss of
revenue, litigation, regulatory or legislative action, loss of existing or potential client
business, reduced workforce morale, and difficulties in recruiting talent. Sustained
reputational damage could have a materially negative impact on the Issuer's licence
to operate and the value of the Issuer's franchise, which in turn could negatively
affect the Issuer's profitability and financial condition.
D.6 Key You may lose up to the entire value of your investment if the Issuer fails or is
information otherwise unable to meet its payment obligations.
on the key You may also lose the value of your investment if:
risks that are
specific to the

the Underlying Warrant(s) (or the Underlying Warrant Reference Asset(s) and
Securities in turn the Underlying Warrant(s)) perform in such a manner that the
including a redemption amount payable to you (whether at maturity or following an early
risk warning redemption) is less than the initial purchase price and could be as low as zero;
that investors
may lose some

you sell your Securities prior to maturity in the secondary market (if any) at an
amount that is less than the initial purchase price; and/or
or all of the
the Securities are redeemed early following the occurrence of an extraordinary
value of their event in relation to the Underlying Warrant, the Issuer, the relevant currencies
entire or taxation (such as following an additional disruption event) and the amount
investment or you receive on such early redemption is less than the initial purchase price.
part of it Risk of withdrawal of the public offering: In case of a public offer, the Issuer may
provide in the Final Terms that it is a condition of the offer that the Issuer may
withdraw the offer for reasons beyond its control, such as extraordinary events that
in the determination of the Issuer may be prejudicial to the offer. In such
circumstances, the offer will be deemed to be null and void. In such case, where you
have already paid or delivered subscription monies for the relevant Securities, you
will be entitled to reimbursement of such amounts, but will not receive any
remuneration that may have accrued in the period between their payment or
delivery of subscription monies and the reimbursement of the Securities.
Reinvestment risk / loss of yield: Following an early redemption of your Securities
for any reason, you may be unable to reinvest the redemption proceeds at an
effective yield as high as the yield on the Securities being redeemed.
Volatile market prices: the market value of the Securities is unpredictable and may
be highly volatile, as it can be affected by many unpredictable factors, including:
market interest and yield rates; fluctuations in currency exchange rates; exchange
controls; the time remaining until the Securities mature; economic, financial,
regulatory, political, terrorist, military or other events in one or more jurisdictions;
changes in laws or regulations; the Issuer's creditworthiness or perceived
creditworthiness; and the performance of the relevant Underlying Warrant(s) (or the
Underlying Warrant Reference Asset(s) and in turn the Underlying Warrant(s)).
Securities are not 'principal protected': Upon maturity of your Securities, you may
lose some or all of the capital that you invested, depending on the performance of
the Underlying Warrant(s) (or the Underlying Warrant Reference Asset(s) and in turn
the Underlying Warrant(s)).
Securities include embedded derivatives on Underlying Asset(s) that are subject to
adjustment: The securities are linked to the Underlying Warrant(s) which are in turn
linked to the Underlying Warrant Reference Asset(s). The Underlying Warrant(s) are
subject to provisions which provide for adjustments and modifications of their terms
and alternative means of valuation of the Underlying Warrant Reference Asset(s) in
certain circumstances (and which could be exercised by the issuer of the Underlying
Warrant(s) in a manner which has an adverse effect on the market value and/or
amount repayable in respect of your Securities).
Risks relating to Underlying Warrant: You are exposed to the change in value of the
Underlying Warrant(s) which may fluctuate up or down depending on the
performance of the Underlying Warrant Reference Asset(s). The performance of the
Underlying Warrant Reference Asset(s) may be subject to fluctuations that may not
correlate with other similar reference assets. Payments upon redemption will be
calculated by the change in value of the Underlying Warrant(s) between 4 September
2014 and 30 September 2020. Any information about the past performance of the
Underlying Warrant(s) and/or the Underlying Warrant Reference Asset(s) should not
be taken as an indication of how prices will change in the future. You should also
note that the market value of both your Securities and the Underlying Warrant(s) will
be affected by the ability, and the perceived ability, of the Issuer to fulfil its
obligations under the instruments. The impact of any inability, or perceived inability,
Securities are linked to Underlying Warrant(s) that are issued by the Issuer and it
may negatively affect both the value of the Underlying Warrant(s) and the value of
your Securities.
Risks associated with specific Underlying Warrant Reference Asset(s):
As the Underlying Warrant Reference Asset is an equity index, the Underlying
Warrant may be subject to the risk of fluctuations in market interest rates, currency
exchange rates, equity prices, commodity prices, inflation, the value and volatility of
the relevant equity index, and also to economic, financial, regulatory, political,
terrorist, military or other events in one or more jurisdictions, including factors
affecting capital markets generally or the stock exchanges on which any such
Underlying Warrant may be traded. This could have an adverse effect on the value of
the Underlying Warrant which, in turn, will have an adverse effect on the value of
your Securities.
The capital invested in the Securities is at risk. Consequently, you may lose the value
of your entire investment, or part of it.
Section E - Offer
E.2b Reasons for
offer and use of
proceeds when
different from
making profit
and/or hedging
The net proceeds from each issue of Securities will be applied by the Issuer for its
general corporate purposes, which includes making a profit and/or hedging certain
risks. If the Issuer elects at the time of issuance of Securities to make different or
more specific use of proceeds, the Issuer will describe that use in the Final Terms.
Not Applicable; the net proceeds will be applied by the Issuer for making profit
and/or hedging certain risks.
certain risks
E.3 Description
of
the terms and
conditions
of
offer
The terms and conditions of any offer of Securities to the public may be determined
by agreement between the Issuer and the Manager(s) at the time of each issue.
The Securities are offered subject to the following conditions:
Offer Price: 100% of the Issue Price
Conditions to which the offer is subject: The Issuer reserves the right to withdraw
the offer for Securities at any time on or prior to the end of the Offer Period.
Following withdrawal of the offer, if any application has been made by any potential
investor, each such potential investor shall not be entitled to subscribe or otherwise
acquire the Securities and any applications will be automatically cancelled and any
purchase money will be refunded to the applicant by the Authorised Offeror in
accordance with the Authorised Offeror's usual procedures.
Description of the application process: An offer of the Securities may be made by
the Manager or the Authorised Offeror other than pursuant to Article 3(2) of the
Prospectus Directive in the United Kingdom (the "Public Offer Jurisdiction") during
the Offer Period.
Applications for the Securities can be made in the Public Offer Jurisdiction through
the Authorised Offeror during the Offer Period. The Securities will be placed into
the Public Offer Jurisdiction by the Authorised Offeror. Distribution will be in
accordance with the Authorised Offeror's usual procedures, notified to investors by
the Authorised Offeror.
Details of the minimum and/or maximum amount of application: The minimum
and maximum amount of application from the Authorised Offeror will be notified
to investors by the Authorised Offeror.
Details of the method and time limits for paying up and delivering the Securities:
the Issue Date.
Manner in and date on which results of the offer are to be made public: Investors
will be notified by the Authorised Offeror of their allocations of Securities and the
settlement arrangements in respect thereof.
Categories of holders to which the Securities are offered and whether tranche(s)
have been reserved for certain countries: Not Applicable
Process for notification to applicants of the amount allotted and the indication
whether dealing may begin before notification is made: Each investor will be
notified by the Authorised Offeror of its allocation of Securities at the time of such
investor's application.
Name(s) and address(es), to the extent known to the Issuer, of the placers in the
various countries where the offer takes place: Not Applicable
E.4 Description
of
The relevant Manager(s) or authorised offeror(s) may be paid fees in relation to any
any
interest
material
to
issue/offer
including
conflicting
issue or offer of Securities. Potential conflicts of interest may exist between the
Issuer, Determination Agent, relevant Manager(s) or authorised offeror(s) or their
affiliates (who may have interests in transactions in derivatives related to the
Underlying Asset(s) which may, but are not intended to, adversely affect the market
price, liquidity or value of the Securities) and holders.
interests Not Applicable; no person involved in the issue or offer has any interest, or
conflicting interest, that is material to the issue or offer of Securities.
E.7 Estimated
expenses
charged
to
investor
by
issuer/offeror
The Issuer will not charge any expenses to holders in connection with any issue of
Securities. Offerors may, however, charge expenses to holders. Such expenses (if
any) will be determined by agreement between the offeror and the investors at the
time of each issue.
Not Applicable; no expenses will be charged to the investor by the issuer or the