Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 103

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 103
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 Issuer shall be considered to be solvent at a particular point in time if (i) it is able to pay its debts owed to Senior Creditors as they fall due and (ii) the Balance Sheet Condition (as defined herein) has been met. An officer’s certificate executed in accordance with the Indenture as to the Issuer’s solvency at any particular point in time shall be treated by the Issuer, the Trustee, the holders of the Securities and all other interested parties as correct and sufficient evidence thereof. Any payment of interest not due by reason of these provisions relating to ranking shall be deemed cancelled as provided under “— Interest Cancellation” above. “Senior Creditors” means creditors of the Issuer (i) who are unsubordinated creditors; (ii) whose claims are, or are expressed to be, subordinated (whether only in the event of the winding-upor administration of the Issuer or otherwise) to the claims of unsubordinated creditors of the Issuer but not further or otherwise; (iii) who are creditors in respect of any secondary non-preferentialdebts; or (iv) whose claims are, or are expressed to be, junior to the claims of other creditors of the Issuer, whether subordinated or unsubordinated, other than those whose claims rank, or are expressed to rank, pari passuwith, or junior to, the claims of the holders of the Securities. “secondary non-preferentialdebts” shall have the meaning given to it in the Insolvency Act. The “Balance Sheet Condition” shall be satisfied in relation to the Issuer if the value of its assets is at least equal to the value of its liabilities (taking into account its contingent and prospective liabilities), according to the criteria that would be applied by the High Court of Justice of England and Wales (or the relevant authority of such other jurisdiction in which the Issuer may be organized) in determining whether the Issuer is “unable to pay its debts” under section 123(2) of the Insolvency Act or any amendment or re-enactmentthereof (or in accordance with the corresponding provisions of the applicable laws of such other jurisdiction in which the Issuer may be organized). S-64

Because of the subordination described above, in the event of our winding-up in England (or in any other jurisdiction which we are incorporated), our Senior Creditors may recover more, ratably, than the holders of the Securities and any Parity Securities. Currently, we have no
limitations