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Subordinated debt and preference shares

Subordinated debt and preference shares

Barclays issues subordinated debt instruments and preference shares that contribute to the strengthening of our capital position

Barclays issues subordinated debt instruments and preference shares that contribute to the strengthening of our capital position.

Barclays has a history of innovation in the hybrid capital space. Consequently, we have a variety of dated and undated structures outstanding, including Reserve Capital Instruments (RCIs), Tier One Notes (TONs), preference shares, contingent capital, and subordinated debt securities none of which are secured.

The terms of each security reflect the requirements for its particular class of capital at the time it was issued. We endeavour to keep our capital structure as simple as possible while still embracing regulatory progress. Our aim is to provide as much information as is necessary to help investors understand the terms of the instruments they own or are considering, and we hope investors agree that our capital portfolio offers a good selection of investment opportunities to suit different risk profiles.

Please refer to Barclays outstanding subordinated debt and preference shares (XLS 0.05MB) to obtain key details of our portfolio of subordinated debt instruments and preference shares. You can also view our latest and archived Annual Reports, which make clear the accounting and regulatory values of these instruments.
Regulatory capital balances differ from accounting balance sheet due to:

  •  Regulatory requirements relating to capital eligibility criteria
  •  Amortisation of principal in five years to maturity
  •  Various regulatory adjustments to statutory accounts.