BARC Barclays Plc

RNS Number:9079Q
Barclays Bank PLC
13 September 2000

      BARCLAYS LAUNCHES US$1.25 BILLION OF TIER 1 PREFERRED SECURITIES

Barclays Bank PLC today has launched an offer of US$1.25 billion of Reserve
Capital Instruments (RCIs), tier 1 capital as defined for regulatory purposes
by the Financial Services Authority.  The securities will be issued by
Barclays Bank PLC, a wholly owned subsidiary of Barclays PLC, and listed on
the London Stock Exchange.

The issue, which will have broadly the same structure as the euro-denominated
RCIs issued by Barclays earlier this year, consists of US$1.25 billion of
perpetual fixed rate securities that are callable in June 2011. If they are
not called, the coupon steps up and the RCIs become floating rate securities.

The RCIs are expected to be rated aa2/A+ by Moody's Investor Services Limited
and Standard and Poor's respectively.

Hugh Graham, Deputy Group Treasurer said "This issue forms part of Barclays
regular capital management programme. Raising non-sterling tier 1 capital
achieves a better currency match of assets and capital which reduces the
volatility in the capital ratios that can result from exchange rate movements.
This issue complements neatly the euro-denominated RCI issue made in April".

Barclays Capital, the investment banking division of the Barclays Group, is
lead managing the deal.

For further Information:
Ian Roundell, Head of Investor Relations
Barclays PLC
Tel: 020 7699 2961

Leigh Bruce, Director, Corporate Communications
Barclays PLC
Tel: 020 7699 2658
 
                                                

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