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Barclays raised £1bn via a PerpNC7 AT1 bond at a yield of 8.375%, 37.5bp inside initial guidance of 8.75% area. The junior subordinated note is rated Ba1/BB-/BBB-. If not called by 15 March 2032, the coupon will reset to the 5Y MS plus 469.2bp. A trigger event will occur if at any time the fully loaded CET1 Ratio falls below 7%. Proceeds will be used for general corporate purposes and to further strengthen the capital base of the group and its subsidiaries.