Barclays Bank PLC Tender Offer: Announcement of Reference Yields

Mon Apr 8, 2013 3:11pm EDT

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LONDON--(Business Wire)--
On March 26, 2013, Barclays Bank PLC (the "Issuer") announced a cash tender
offer (the "Tender Offer") to holders of the notes listed in the table below
(the "Notes"), subject to the terms and conditions set forth in an offer to
purchase dated March 26, 2013, as amended by the Issuer`s announcement on April
3, 2013 that it decreased the maximum aggregate principal amount of Notes the
Issuer will accept in the Tender Offer (the "Tender Cap") from US$1,000,000,000
to US$850,000,000 (the "Offer to Purchase"). 

Further to the Tender Offer, the Issuer hereby informs the holders of the Notes
that the Reference Yield for each series of Notes has been calculated by the
Dealer Manager in the manner described in the Offer to Purchase at 2:00 p.m.,
New York City time, today, April 8, 2013 and is set forth in the table below:

                                                                                                   
 Title of Security                 CUSIP/ISIN           UST Reference             Reference Yield  
                                                        Security                                   
                                                                                                   
 $2,250,000,000 6.05% Fixed        06739G AE9 /         0.750% U.S. Treasury      0.677%           
 Rate Subordinated Notes due       US06739GAE98 /       Note due 2/28/2018                         
 2017                              XS0334249223                                                    
                                                                                                   
 $1,250,000,000 5.140%             06739G BP3 /         2.000% U.S. Treasury      1.729%           
 Lower Tier 2 Notes due            US06739GBP37         Note due 2/15/2023                         
 October 2020                                                                                      
                                                                                                   


The Early Participation Deadline remains 5:00 p.m., New York City time, today,
April 8, 2013, unless extended, and the Early Payment Date is expected to be on
or about April 9, 2013. The expected timetable of events in respect of the
Tender Offer is unchanged from the times and dates set forth in the Offer to
Purchase. 

Notes validly tendered prior to the Early Participation Deadline, including any
Notes tendered prior to this announcement, may be withdrawn by or on behalf of a
holder at any time prior to the Early Participation Deadline, but not
thereafter, by delivering a written notice of withdrawal, or a facsimile of one,
with the required information as set forth in the Offer to Purchase to the
Tender Agent prior to the Early Participation Deadline. Notes tendered after the
Early Participation Deadline but prior to the Expiration Deadline may be
withdrawn by or on behalf of a holder any time prior to 5:00 p.m., New York City
time, on April 25, 2013, unless extended (the "Withdrawal Deadline"), but not
thereafter, by delivering a written notice of withdrawal, or a facsimile of one,
with the required information as set forth in the Offer to Purchase to the
Tender Agent prior to the Withdrawal Deadline. 

Holders are advised to carefully read the Offer to Purchase for full details of,
and information on the procedures for participating in, the Tender Offer.
Capitalized terms used and not otherwise defined in this announcement have the
meanings given to them in the Offer to Purchase.

For Further Information

A complete description of the terms and conditions of the Tender Offer is set
forth in the Offer to Purchase. Further details about the transaction can be
obtained from: 

The Dealer Manager

Barclays Capital Inc.
745 Seventh Avenue
New York, New York 10019
United States
Telephone: +1 (212) 528-7581
US Toll Free Number: +1 (800) 438-3242
Attention: Liability Management Group
Email: liability.management@barclays.com

The Tender Agent

Global Bondholder Services Corporation
65 Broadway - Suite 404
New York, New York 10006
United States
Banks and Brokers Call: +1 (212) 430-3774
Toll Free Number: +1 (866) 470-4200
Facsimile: +1 (212) 430-3775/3779
Attention: Corporate Actions
Email: Info@gbsc-usa.com

A copy of the Offer to Purchase is available to eligible persons upon request
from the Tender Agent. 

Analyst and Investor Information

Further information for analysts and investors can be obtained from the
following contacts at Barclays: 

Investor Relations
Charlie Rozes
Tel: +44 (0) 20 7116 5752 

Barclays Treasury
Steven Penketh
Tel: +44 (0) 20 7773 0125 

Media Relations
Giles Croot
Tel: +44 (0) 20 7116 6132 

DISCLAIMER

This announcement must be read in conjunction with the Offer to Purchase. No
offer or invitation to acquire or exchange any securities is being made pursuant
to this announcement. This announcement and the Offer to Purchase contain
important information, which must be read carefully before any decision is made
with respect to the Tender Offer. If any holder is in any doubt as to the action
it should take, it is recommended to seek its own legal, tax and financial
advice, including as to any tax consequences, from its stockbroker, bank
manager, lawyer, accountant or other independent financial adviser. Any
individual or company whose Notes are held on its behalf by a broker, dealer,
bank, custodian, trust company or other nominee must contact such entity if it
wishes to participate in the Tender Offer. None of the Issuer, the Dealer
Manager or the Tender Agent (or any person who controls, or is a director,
officer, employee or agent of such persons, or any affiliate of such persons)
makes any recommendation as to whether holders should participate in the Tender
Offer. 

General

Neither this announcement, the Offer to Purchase nor the electronic transmission
thereof constitutes an offer to buy or the solicitation of an offer to sell
Notes (and tenders of Notes for purchase pursuant to the Tender Offer will not
be accepted from holders) in any circumstances in which such offer or
solicitation is unlawful. In those jurisdictions where the Notes, blue sky or
other laws require the Tender Offer to be made by a licensed broker or dealer
and the Dealer Manager or any of its affiliates is such a licensed broker or
dealer in any such jurisdiction, the Tender Offer shall be deemed to be made by
such Dealer Manager or such affiliate, as the case may be, on behalf of the
Issuer in such jurisdiction. 

In addition, each holder participating in the Tender Offer will be deemed to
give certain representations in respect of the other jurisdictions referred to
below and generally as set out in "Procedures for Participating in the Tender
Offer" in the Offer to Purchase. Any tender of Notes for purchase pursuant to
the Tender Offer from a holder that is unable to make these representations will
not be accepted. 

United Kingdom

The communication of this announcement, the Offer to Purchase and any other
documents or materials relating to the Tender Offer is not being made, and such
documents and/or materials have not been approved, by an authorized person for
the purposes of section 21 of the Financial Services and Markets Act 2000.
Accordingly, such documents and/or materials are not being distributed to, and
must not be passed on to, the general public in the United Kingdom. The
communication of such documents and/or materials as a financial promotion is
only being made to those persons in the United Kingdom falling within the
definition of investment professionals (as defined in Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Financial Promotion Order")) or persons who are within Article 43(2) of the
Financial Promotion Order or any other persons to whom it may otherwise lawfully
be made under the Financial Promotion Order (such persons together being the
"Relevant Persons"). The Tender Offer is only available to Relevant Persons and
the transactions contemplated in the Offer to Purchase will be available only
to, or engaged in only with, Relevant Persons, and this financial promotion must
not be relied or acted upon by persons other than Relevant Persons. 

France

The Tender Offer is not being made, directly or indirectly, to the public in the
Republic of France ("France"). Neither this announcement, the Offer to Purchase
nor any other documents or materials relating to the Tender Offer have been or
shall be distributed to the public in France and only (i) providers of
investment services relating to portfolio management for the account of third
parties (personnes fournissant le service d`investissement de gestion de
portefeuille pour compte de tiers) and/or (ii) qualified investors
(investisseurs qualifiés) other than individuals, in each case acting on their
own account and all as defined in, and in accordance with, Articles L.411-1,
L.411-2 and D.411-1 to D.411-3 of the French Code Monétaire et Financier, are
eligible to participate in the Tender Offer. The Offer to Purchase and any other
document or material relating to the Tender Offer have not been and will not be
submitted for clearance to nor approved by the Autorité des marchés financiers. 

Italy

None of the Tender Offer, this announcement, the Offer to Purchase or any other
documents or materials relating to the Tender Offer has been or will be
submitted to the clearance procedure of the Commissione Nazionale per le Società
e la Borsa ("CONSOB") pursuant to Italian laws and regulations. 

The Tender Offer is being carried out in the Republic of Italy ("Italy") as
exempted offers pursuant to article 101-bis, paragraph 3-bis of Legislative
Decree No. 58 of 24 February 1998, as amended (the "Financial Services Act") and
article 35-bis of CONSOB Regulation No. 11971 of 14 May 1999, as amended
(the"CONSOB Regulation"). The Tender Offer is also being carried out in
compliance with article 35-bis, paragraph 7 of the CONSOB Regulation. 

Holders, or beneficial owners of the Notes, located in Italy can tender some or
all of their Notes pursuant to the Tender Offer through authorized persons (such
as investment firms, banks or financial intermediaries permitted to conduct such
activities in Italy in accordance with the Financial Services Act, CONSOB
Regulation No. 16190 of 29 October 2007, as amended from time to time, and
Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance
with applicable laws and regulations or with requirements imposed by CONSOB or
any other Italian authority. 

Each intermediary must comply with the applicable laws and regulations
concerning information duties vis-à-vis its clients in connection with the Notes
or the Tender Offer.

Barclays Bank PLC
Investor Relations
Charlie Rozes, +44 (0) 20 7116 5752
or
Barclays Treasury
Steven Penketh, +44 (0) 20 7773 0125
or
Media Relations
Giles Croot, +44 (0) 20 7116 6132 

Copyright Business Wire 2013