Barclays Capital issued a $500 million transaction from its medium-term note program, Gracechurch Card Program Funding PLC.

The deal is the 12th issuance from the Gracechurch receivables trust. The assets backing the notes are
receivables arising under designated MasterCard and Visa revolving credit card accounts originated or acquired in the U.K by Barclaycard, a business
unit of Barclays Bank PLC.

Moody's Investors Service will rate the deal and has issued a provisional 'Aaa' rating to the series 2012-4, class A, floating rate notes due 2017.      

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