Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 68

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 68
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 Contingent Convertible Securities—Interest Cancellation” below) to (but excluding) the date fixed for redemption. The Issuer may choose to redeem the Securities at times when prevailing
interest rates may be relatively low or in other circumstances favorable to the Issuer. If we redeem the Securities, you may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as that of
the Securities. In addition, any redemption of the Securities is subject to among other conditions, receipt of the prior consent of the PRA and/or the Relevant U.K. Resolution Authority (in either case if such consent is then required by the Capital
Regulations), regardless of whether such redemption would be favorable or unfavorable to you.

Furthermore, holders of the Securities have
no right to request the redemption of the Securities and should not invest in the Securities in the expectation that the Issuer would exercise its option to redeem the Securities. Any decision by the Issuer as to whether it will exercise its option
to redeem the Securities will be taken at the absolute discretion of the Issuer with regard to factors such as, but not limited to, the economic impact of exercising such option to redeem the Securities, any tax consequences, the regulatory capital
requirements and the prevailing market conditions.

S-42

We may substitute the Securities or vary their terms without the consent of holders.

Following the occurrence of a Regulatory Event or Tax Event, we may also, at our option and without the consent or approval of the holders or
Trustee, either substitute all (but not some only) of the Securities for, or vary the terms of the Securities so that they remain or, as appropriate, become, Compliant Securities as more particularly described under “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Substitution or Variation” below. While Compliant Securities are required to contain terms not materially less favorable to investors than the terms of the
Securities, this test will be deemed satisfied where the criteria set out in the definition of Compliant Securities is met. Despite the satisfaction of the relevant criteria, there can be no assurance that, whether due to the particular
circumstances of a holder or otherwise, such Compliant Securities will not negatively affect any particular holder in any respects. In addition, the substitution or variation of the Securities may result in tax or stamp duty consequences for
holders. The tax and stamp duty consequences of holding the Compliant Securities could be different for holders from the tax and stamp