Barclays 2013 Annual Report Download - page 346

Note 31: Subordinated liabilities continued
Dated loan capital
Dated loan capital is issued by the Bank and respective subsidiaries for the development and expansion of their business and to strengthen their
respective capital bases. The principal terms of the dated loan capital are described below:
Subordination
All dated loan capital ranks behind the claims against the bank of depositors and other unsecured unsubordinated creditors but before the claims
of the undated loan capital and the holders of their equity. The dated loan capital issued by subsidiaries, are similarly subordinated.
Interest
Interest on the Floating Rate Notes are fixed periodically in advance, based on the related interbank or local central bank rates.
Interest on the 7.75% Contingent Capital Notes is fixed until the call date. After the call date, in the event that it is not redeemed, the interest rate
will be re-set and fixed until maturity based on a market rate.
Repayment
Those Notes with a call date are repayable at the option of the issuer, on conditions governing the respective debt obligations, some in whole or in
part, and some only in whole. The remaining dated loan capital outstanding at 31 December 2013 is redeemable only on maturity, subject in
particular cases, to provisions allowing an early redemption in the event of certain changes in tax law or, to certain changes in legislation or
regulations.
Any repayments prior to maturity require, in the case of the Bank, the prior approval of the PRA, or in the case of the overseas issues, the approval
of the local regulator for that jurisdiction.
There are no committed facilities in existence at the balance sheet date which permit the refinancing of debt beyond the date of maturity.
The other capital issued by Barclays Kenya, Botswana and Zambia includes amounts of £14m (2012: £15m) issued by Barclays Botswana that are
convertible. These are 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.
Other
The 7.625% Contingent Capital Notes will be automatically transferred from investors to Barclays PLC (or another entity within the Group) for nil
consideration should the Core Tier 1 or Common Equity Tier 1 capital of the Group (as relevant at the time) fall below 7.0% on certain dates as
specified in the terms.
The 7.75% Contingent Capital Notes will be automatically written-down and investors will lose their entire investment in the notes should the Core
Tier 1 or Common Equity Tier 1 capital of the Group (as relevant at the time) fall below 7.0% on certain dates as specified in the terms.
The 5.14% Lower Tier 2 Notes and the 7.625% Contingent Capital Notes and the 7.75% Contingent Capital Notes were registered under the US
Securities Act of 1933. All other issues of dated loan capital have been made in the Euro currency market, local markets and/or under Rule 144A.
Note 32: Ordinary shares, share premium, and other equity
Called up share capital, allotted and fully paid
Number of
shares
m
Ordinary
shares
£m
Share
premium
£m
Total share
capital and
share
premium
£m
Other equity
instruments
£m
As at 1 January 2013 12,243 3,061 9,416 12,477 –
Issued to staff under share incentive plans 257 63 727 790 –
Warrants exercised 379 95 655 750 –
Rights issue 3,219 805 5,025 5,830 –
AT1 equity issuance – – – – 2,063
Other issuances 15 4 36 40 –
As at 31 December 2013 16,113 4,028 15,859 19,887 2,063
As at 1 January 2012 12,199 3,050 9,330 12,380 –
Issued to staff under share incentive plans 44 11 86 97 –
As at 31 December 2012 12,243 3,061 9,416 12,477 –
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344 Barclays PLC Annual Report 2013
Notes to the financial statements
For the year ended 31 December 2013 continued