Business Context and Reporting Period
This Form 6-K filing by Barclays PLC, dated May 02, 2025, serves as a Notice of Redemption and Cancellation of Listing. The filing pertains to the company's debt obligations rather than a periodic financial performance report.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, or margin data. The specific financial instrument addressed is:
- Instrument: £1,000,000,000 7.125% Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities.
- ISIN: XS1998799792.
- Issuance Date: June 13, 2019.
- Redemption Price: 100% of principal amount plus accrued but unpaid interest from March 15, 2025, to the redemption date.
Material Changes
Barclays PLC has elected to redeem the aforementioned securities pursuant to Section 11.02 of the Base Indenture. This action results in the cancellation of the listing on the London Stock Exchange's International Securities Market (ISM).
Outlook, Risks, and Unusual Items
Redemption Timeline:
- Redemption Date: June 15, 2025.
- Payment Date: June 16, 2025 (as June 15 is not a business day).
- Interest Cessation: Interest will cease to accrue on the Redemption Date.
Liquidity and Funding: The company will irrevocably deposit funds sufficient to pay the total redemption price with the Trustee or Paying Agent prior to the Redemption Date. Upon deposit, holder rights cease except for the right to receive the redemption price without further interest.
Investor Verification Checklist
- Confirm the ISIN (XS1998799792) matches the securities held.
- Verify the payment date of June 16, 2025, for principal and accrued interest.
- Check the London Stock Exchange for the official cancellation of the listing shortly after June 16, 2025.
- Contact Barclays Debt Investor Relations or the Trustee (The Bank of New York Mellon) for specific surrender instructions if holding physical certificates.