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Barclays Bank to redeem preference shares

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Barclays Bank to redeem preference shares

exercised itsright to redeem its outstanding $1.15 billion 7.75% noncumulative callablepreference shares on their optional redemption date of June 15.

The redemptionis part of the bank's ongoing capital management, reducing preference sharedividends payable by $89.1 million per year from June 15 onward. The capitalimpact of the redemption is dependent on foreign exchange rates applicable onthe redemption date, and is estimated to lead to a pro forma drop of about 6basis points on the bank's common equity Tier 1 ratio as of March 31.

BarclaysBank is a unit of BarclaysPlc.