LONDON, Nov 12 (IFR) - Barclays is testing investor interest
for its USD-denominated Additional Tier 1 issue at initial price
thoughts of low 8%s, with pricing targeted for tomorrow.
The deal is a perpetual callable at par in December 2018 and
every five year anniversary thereafter, offered in benchmark
size and SEC-registered format.
It will be converted to equity if the capital ratio of
Barclays falls below 7% fully loaded common equity tier 1 ratio
on a quarterly basis.
Barclays is bookrunner, with Citigroup, Deutsche Bank,
Goldman Sachs, SMBC, UBS, Wells Fargo as joint leads no books.