96ES Barclays

TIDM96ES

RNS Number : 9735K

Barclays Bank PLC

07 January 2021

NOT FOR DISTRIBUTION IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT

January 7, 2021

BARCLAYS BANK PLC ANNOUNCES THE EXPIRATION OF ITS INVITATION TO PURCHASE NOTES FOR CASH

Barclays Bank PLC (the "Issuer") announces today the expiration of its previously announced invitation to holders (the "Noteholders") of its 7.625% Contingent Capital Notes due November 2022 (the "Notes") to tender the Notes up to an aggregate principal amount of US$1,500,000,000 (the "Maximum Principal Amount") for purchase by the Issuer for cash (the "Offer").

The Offer was made on the terms and subject to the conditions and restrictions set out in the tender offer memorandum dated December 7, 2020 (the "Tender Offer Memorandum") and in the press release on December 21, 2020 on the early results of the Offer. Capitalized terms used in this announcement and not otherwise defined have the meanings given to them in the Tender Offer Memorandum.

The Issuer hereby announces that the Offer expired at 11:59 p.m., New York City time, on January 6, 2021 (the "Expiration Deadline").

An aggregate principal amount of US$1,500,000,000 of the Notes, after pro ration and rounding, was accepted from Noteholders who validly tendered and did not validly withdraw their Notes pursuant to the Offer by 5:00pm, New York City time, on December 18, 2020 (the "Early Tender Date") (the "Accepted Notes"). The total cash payment to purchase the Accepted Notes of U.S.$1,697,348,956.98, including the Total Consideration and the Accrued Interest Payment, was paid to applicable Noteholders on December 22, 2020.

As previously announced by the Issuer on December 21, 2020, the Maximum Principal Amount was exceeded as at the Early Tender Date and, accordingly, the Issuer has not accepted any Notes validly tendered after the Early Tender Date. No Notes were validly tendered after the Early Tender Date.

For Further Information

A complete description of the terms and conditions of the Offer is set out in the Tender Offer Memorandum and in the press release on December 21, 2020 on the early results of the Offer. Further details about the transaction can be obtained from:

The Dealer Manager

Barclays Capital Inc.

745 Seventh Avenue

New York, New York 10019

United States

Telephone: +1 (212) 528-7581

US Toll Free Number: +1 (800) 438-3242

Attention: Liability Management Group

Email: us.lm@barclays.com

The Tender Agent

Global Bondholder Services Corporation

65 Broadway - Suite 404

New York, New York 10006

United States

Telephone: +1 (212) 430-3774

U.S. Toll Free Number: +1 (866) 470-4300

Fax: +1 (212) 430-3775

Attention: Corporation Actions

Email: contact@gbsc-usa.com

A copy of the Tender Offer Memorandum is available to eligible persons upon request from the Tender Agent and at https://www.gbsc-usa.com/barclays/ .

* * *

DISCLAIMER

This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire or exchange any securities is being made pursuant to this announcement.

The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Issuer, the Dealer Manager and the Tender Agent to inform themselves about and to observe any such restrictions.

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END

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January 07, 2021 10:45 ET (15:45 GMT)

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