Barclays 2007 Annual Report Download - page 205

3
Financial statements
Barclays PLC Annual Report 2007 203
27 Subordinated liabilities (continued)
2007 2006
Notes £m £m
Convertible
Barclays Bank of Botswana (BBB)
Subordinated Unsecured Floating Rate Capital Notes 2014 (BWP 100m) n,o 89
Barclays Bank Zambia PLC (Barclays Zambia)
Subordinated Unsecured Floating Rate Capital Notes 2015 (ZMK 40,000m) n,p 65
Absa
Redeemable cumulative option-holding preference shares (ZAR 147m) q 11 11
Total convertible 25 25
None of the Group’s dated loan capital is secured. The debt obligations of the Bank, Barclays Spain, BBG, BBB, Barclays Zambia, Barclays Kenya and Absa
rank ahead of the interests of holders of their equity. Dated loan capital of the Bank, Barclays Spain, BBG, BBB, Barclays Zambia, Barclays Kenya and Absa
has been issued on the basis that the claims there under are subordinated to the respective claims of their depositors and other unsecured
unsubordinated creditors.
Interest
Notes
a The interest rates on these Notes are fixed for the life of those issues.
b These Notes bear interest at rates fixed periodically in advance based on London or European interbank rates.
c These Notes bear interest at rates fixed periodically in advance based on Sydney Bill of exchange rates.
d These Notes bear a fixed rate of interest until 2008. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on London interbank rates.
e These Notes bear a fixed rate of interest until 2008. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on Sydney Bill of exchange rates.
f These Notes bear a fixed rate of interest until 2009. After that date, in the event that the Notes are not redeemed, the coupon will be reset to a fixed
margin over a reference rate for a further period of five years.
g These Notes bear a fixed rate of interest until 2010. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on Johannesburg interbank acceptance rates.
h These Notes bear interest at rates fixed periodically in advance based on Johannesburg interbank acceptance rates.
i These Notes bear a fixed rate of interest until 2012. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on Johannesburg interbank acceptance rates.
j These Notes bear a fixed rate of interest until 2015. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on Johannesburg interbank acceptance rates.
k These Notes bear a fixed rate of interest until 2012. After that date, in the event that the Notes are not redeemed, the coupon will be reset to a fixed
margin over a reference gilt rate for a further period of five years.
l These Notes bear a fixed rate of interest until 2014. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on European interbank rates.
m This Loan bears a fixed rate of interest based on a US Dollar principal amount, but the interest payments have been swapped, resulting in a Yen interest
rate payable which is fixed periodically in advance based on London interbank rates.
n Repayable at the option of the issuer, prior to maturity, on conditions governing the respective debt obligations, some in whole or in part, and some
only in whole.
o These Notes bear interest at rates fixed periodically in advance based on the Bank of Botswana Certificate Rate. All of these Notes will be compulsorily
converted to Preference Shares of BBB, having a total par value equal in sum to the principal amount of Notes outstanding at the time of conversion,
should BBB experience pre-tax losses in excess of its retained earnings and other capital surplus accounts.
p These Notes bear interest at rates fixed periodically in advance based on the Bank of Zambia Treasury Bill rate. All of these Notes will be compulsorily
converted to Preference Shares of Barclays Zambia, having a total par value equal in sum to the principal amount of Notes outstanding at the time of
conversion, should Barclays Zambia experience pre-tax losses in excess of its retained earnings and other capital surplus accounts.
q The dividends are compounded and payable semi-annually in arrears on 30th September and 31st March of each year. The shares were issued by
Absa Group Limited on 1st July 2004 and the redemption dates commence on the first business day after the third anniversary of the date of issue of
the redeemable preference shares and ending on the fifth anniversary of the date of issue. Such exercise and notice will be deemed to be effective only
on the option exercise dates, being 1st March, 1st June, 1st September or 1st December of each year. The shares are convertible into ordinary shares
at the option of the preference shareholders on the redemption dates in lots of 100.
r These Notes bear a fixed rate of interest until 2018. After that date in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on London interbank rates.
s These Notes bear a fixed rate of interest until 2014. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at rates
fixed periodically in advance based on Johannesburg interbank acceptance rates.
t These Notes bear interest at rates fixed periodically in advance based on the Central Bank of Kenya Treasury Bill rates.