Barclays 2009 Annual Report Download - page 236

234 Barclays PLC Annual Report 2009 www.barclays.com/annualreport09
Notes to the accounts
For the year ended 31st December 2009
continued
27 Subordinated liabilities continued
2009 2008
Notes £m £m
Convertible
Barclays Bank of Botswana (BBB)
Subordinated Unsecured Fixed Rate Capital Notes 2014 (BWP 190m) j,k) 18 17
Barclays Bank Zambia PLC (Barclays Zambia)
Subordinated Unsecured Floating Rate Capital Notes 2015 (ZMK 49,086m) j,l) 77
Absa
Redeemable cumulative option-holding preference shares (ZAR 147m) –11
Dated loan capital convertible 25 35
Total dated loan capital 17,668 16,169
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 and the dated loan capital has been issued on the basis that the claims thereunder 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 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.
d) These Notes bear interest at rates fixed periodically in advance based on Johannesburg interbank acceptance rates.
e) 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.
f) 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.
g) 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.
h) 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.
i) 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.
j) 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.
k) 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.
l) 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.
m)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.
n) 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.
o) These Notes bear interest at rates fixed periodically in advance based on the Central Bank of Kenya Treasury Bill rates.
p) These Notes bear interest at rates fixed periodically in advance based on the Central Bank of Zambia Treasury Bill rates.