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Barclays PLC — Capital/Financing Update 2016
Aug 23, 2016
5250_prs_2016-08-23_3301b1f8-4140-4a3f-985d-bbd413006afd.pdf
Capital/Financing Update
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23 August 2016
PROSPECTUS SUPPLEMENT
COMBINED SUPPLEMENT 1/2016
BARCLAYS BANK PLC (Incorporated with limited liability in England and Wales)
Pursuant to the Global Structured Securities Programme
______________________________________________________________
This prospectus supplement dated 23 August 2016 (the "Prospectus Supplement") is supplemental to, and must be read in conjunction with, each of the base prospectuses listed in the Schedule hereto, each such base prospectus as supplemented up to the date of this Prospectus Supplement, (a "Base Prospectus" and together, the "Base Prospectuses") as prepared by Barclays Bank PLC in its capacity as issuer (the "Issuer") in respect of its Global Structured Securities Programme (the "Programme"). This Prospectus Supplement constitutes a base prospectus supplement in respect of each Base Prospectus for the purposes of Directive 2003/71/EC (and amendments thereto) and Section 87G of the UK Financial Services and Markets Act 2000 ("FSMA").
Terms defined in the Base Prospectuses shall, unless the context otherwise requires, have the same meanings when used in the Prospectus Supplement.
The purpose of this Prospectus Supplement is to amend and supplement certain information in the "Summary", "Information Incorporated by Reference" and "General Information" sections due to the release of the Q2 2016 Interim Results Announcement (as defined below).
A) THE SUMMARY
i) In respect of each Base Prospectus, the information appearing in the third column of Element B.12 is deleted and replaced with the following:
"Based on the Bank Group's audited financial information for the year ended 31 December 2015, the Bank Group had total assets of £1,120,727 million (2014: £1,358,693 million), total net loans and advances of £441,046 million (2014: £470,424 million), total deposits of £465,387 million (2014: £486,258 million), and total shareholders' equity of £66,019 million (2014: £66,045 million) (including non-controlling interests of £1,914 million (2014: £2,251 million)). The profit before tax from continuing operations of the Bank Group for the year ended 31 December 2015 was £2,841 million (2014: £2,309 million) after credit impairment charges and other provisions of £2,114 million (2014: £2,168 million). The financial information in this paragraph is extracted from the audited consolidated financial statements of the Issuer for the year ended 31 December 2015.
Based on the Bank Group's unaudited financial information for the six months ended 30 June 2016, the Issuer Group had total assets of £1,351,958 million (30 June 2015: £1,197,555 million), total net loans and advances of £473,962 million (30 June 2015: £475,826 million), total deposits of £500,919 million (30 June 2015: £494,423 million), and total shareholders' equity of £69,599 million (30 June 2015: £65,710 million) (including non-controlling interests of £2,976 million (30 June 2015: £2,153 million). The profit before tax from continuing
operations of the Issuer's Group for the six months ended 30 June 2016 was £3,017 million (30 June 2015: £2,635 million) after credit impairment charges and other provisions of £931 million (30 June 2015: £779 million). The financial information in this paragraph is extracted from the unaudited consolidated financial statements of the Issuer for the six months ended 30 June 2016.
Not Applicable: there has been no significant change in the financial or trading position of the Bank Group since 30 June 2016.
There has been no material adverse change in the prospects of the Issuer since 31 December 2015."
ii) In respect of each Base Prospectus, the information appearing in the third column of Element D.2 after the section titled "Business Change/Execution (emerging risk)" under "(ii) Material existing and emerging risks potentially impacting more than one Principal Risk" a new paragraph is inserted as follows:
"UK exit from the EU:
The UK held a referendum on 23 June 2016 on whether it should remain a member of the EU. This results in a vote in favour of leaving the EU. The result of the referendum means that the long-term nature of the UK's relationship with the EU is unclear and there is uncertainty as to the nature and timing of any agreement with the EU. In the interim, there is a risk of uncertainty for both the UK and the EU, which could adversely affect the economy of the UK and other economies in which the Group operates. The potential risks associated with an exit from the EU have been carefully considered by the Board of Directors during the first half of 2016 and relevant actions taken where appropriate."
B) INFORMATION INCORPORATED BY REFERENCE
In respect of each Base Prospectus, the section "Information Incorporated by Reference" shall be updated by:
- i) adding the following document to the list of source documents in paragraph 1 (Source documents):
- (1) the joint unaudited interim results announcement of Barclays PLC and the Issuer as filed with the SEC on Form 6-K on 29 July 2016 in respect of the six months ended 30 June 2016 (the "Q2 2016 Interim Results Announcement"); and
- (2) the Supplement 1/2016 dated 15 August 2016 to the Registration Document 3/2016 dated 1 June 2016 (the "Supplement 1/2016").
- ii) adding the following page references in respect of the Q2 2016 Interim Results Announcement to the cross-reference lists in paragraph 2 (Information incorporated by reference)
| "From the Q2 2016 Interim Results Announcement | |
|---|---|
| Exhibit 99.1 - Results of Barclays PLC Group as of, and | Pages 3 – 120 of |
| for the six months ended, 30 June 2016 | Exhibit 99.1 |
| Performance Highlights | Pages 3 – 5 |
| Group Performance Review | Pages 6 – 9 |
| Results by Business | |
| Barclays UK | Pages 10 – 12 |
| Barclays Corporate and International | Pages 13 – 16 |
| Head Office | Page 17 |
| Barclays Non-Core | Pages 18 – 19 |
| Africa Banking – Discontinued Operation | Page 20 |
| Quarterly Results Summary | Pages 21 – 23 |
|---|---|
| Quarterly Core Results by Business | Pages 24 – 27 |
| Quarterly Africa Banking – Discontinued Operation Results | Page 28 |
| Performance Management | |
| Margins and balances | Page 29 |
| Risk Management | |
| Overview | Page 30 |
| Funding Risk – Liquidity | Pages 31 – 35 |
| Funding Risk – Capital | Pages 36 - 41 |
| Credit Risk | Pages 42 – 50 |
| Market Risk | Pages 51 – 53 |
| Statement of Directors' Responsibilities | Page 54 |
| Condensed Consolidated Financial Statements | Pages 55 - 60 |
| Financial Statement Notes | Pages 61 – 97 |
| Shareholder Information | Page 98 |
| Appendix 1 - Glossary | Pages 99 - 120 |
| Exhibit 99.2 - Unaudited consolidated summary |
Pages 2 - 9 of |
| financial statements of Barclays Bank PLC as of, and | Exhibit 99.2 |
| for the six months ended, 30 June 2016 | |
| Condensed Consolidated Income Statement (Unaudited) | Page 2 |
| Condensed Consolidated Statement of Comprehensive |
Page 3 |
| Income (Unaudited) | |
| Condensed Consolidated Balance Sheet (Unaudited) | Page 4 |
| Condensed Consolidated Statement of Changes in Equity | Pages 5 - 6 |
| (Unaudited) | |
| Condensed Consolidated Cash Flow Statement (Unaudited) | Page 7 |
| Basis of Preparation | Page 8 |
| Non-controlling Interests | Page 9 |
| Dividends | Page 9 |
| Equity and Reserves | Page 9 |
| Exhibit 99.4 – A table setting out the issued share |
Page 1 of Exhibit |
| capital of Barclays Bank PLC and its consolidated | 99.4" |
| subsidiaries' total shareholders' equity, indebtedness | |
| and contingent liabilities as at 30 June 2016 | |
| From Supplement 1/2016 | |
| Risk Factors | Pages 1 - 3 |
| The Issuer and the Group | Pages 5 – 6 |
| Forward Looking Statements | Page 6 |
Only information listed in the cross-reference lists above is incorporated by reference into the Base Prospectuses.
For the purposes of the prospectus rules made under Section 73A of the FSMA and each of the above listed Base Prospectuses, the information incorporated by reference, either expressly or implicitly, into the Q2 2016 Interim Results Announcement does not form part of any of the above listed Base Prospectuses.
Information in the Q2 2016 Interim Results Announcement which is not incorporated by reference into the listed Base Prospectuses is either not relevant for the investor or is covered elsewhere in such Base Prospectuses.
The Q2 2016 Interim Results Announcement may be inspected during normal business hours at the registered office of the Issuer or at https://www.home.barclays/barclays-investorrelations/results-and-reports/results.html.
C) GENERAL INFORMATION
In respect of each Base Prospectus, the section "General Information" is updated by:
i) deleting the significant change statement and replacing it with the following:
"There has been no significant change in the financial or trading position of the Bank Group since 30 June 2016."
ii) deleting the information set out under "Legal Proceedings" and replacing it with the following:
"Save as disclosed under Note 13 (Provisions) and Note 19 (Legal, competition and regulatory matters) to the financial statements of Barclays PLC on pages 79 to 80 and pages 83 to 94, respectively, of the Q2 2016 Interim Results Announcement there are no governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the Issuer is aware), which may have or have had during the 12 months preceding the date of this Base Prospectus, a significant effect on the financial position or profitability of the Issuer and/or the Group."
To the extent that there is any inconsistency between (a) any statement in this Prospectus Supplement (in relation to any Base Prospectus) and (b) any other statement in, or incorporated by reference in any Base Prospectus, the statements in (a) above shall prevail.
Investors should be aware of their rights under Section 87Q(4) to (6) of the Financial Services and Markets Act 2000. Investors who have agreed to purchase or subscribe for Securities before this Prospectus Supplement was published have the right, exercisable within two working days after the date on which this Prospectus Supplement is published, to withdraw their acceptances. This right is exercisable up to, and including 25 August 2016. Investors should contact the distributor from which they agreed to purchase or subscribe the Securities in order to exercise their withdrawal rights.
References to each Base Prospectus shall hereafter mean each such Base Prospectus as supplemented by this Prospectus Supplement. The Issuer has taken all reasonable care to ensure that the information contained in each Base Prospectus, as supplemented by this Prospectus Supplement is, to the best of its knowledge, in accordance with the facts and contains no omission likely to affect its import and accepts responsibility accordingly. Save as disclosed in this Prospectus Supplement, no significant new factor, material mistake or inaccuracy relating to the information included in each Base Prospectus is capable of affecting the assessment of securities issued pursuant to each Base Prospectus has arisen or been noted, as the case may be, since the publication of each Base Prospectus (as supplemented at the date hereof) by the Issuer.
This Prospectus Supplement has been approved by the United Kingdom Financial Conduct Authority, which is the United Kingdom competent authority for the purposes of the Prospectus Directive and the relevant implementing measures in the United Kingdom, as a prospectus supplement issued in compliance with the Prospectus Directive and the relevant implementing measures in the United Kingdom for the purpose of giving information with regard to the issue of securities under the Programme.
The date of this Prospectus Supplement is 23 August 2016
SCHEDULE
LIST OF BASE PROSPECTUSES
-
- GSSP Base Prospectus 2 dated 3 June 2016.
-
- GSSP Base Prospectus 5 dated 10 June 2016.
-
- iPath® Commodity Index Linked Exchange Traded Notes dated 3 June 2016.
-
- iPath® Volatility Index Linked Exchange Traded Notes dated 1 July 2016.