Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 21

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 21
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 the relevant Interest Payment Date (or if the Issuer elects to make a payment of a portion, but not all, of such interest payment), such non-payment shall evidence the Issuer’s exercise of its discretion to cancel such interest payment (or the portion of such interest payment not paid), and accordingly such interest payment (or the portion 
 thereof not paid) shall not be due and payable.                                                                                                                                                                                                                                                                                                                                                                                                             |

| See also “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Interest Cancellation—Agreement to Interest Cancellation” and “—Notice of Interest 
 Cancellation” below.                                                                                                                                                                      |

| Restriction on Interest Payments | Subject to terms described below under “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible                                                                                                    
 Securities—Interest Cancellation—Restriction on Interest Payments” and the extent permitted therein in respect of partial interest payments, the Issuer shall not make an interest payment on the Securities on any Interest 
 Payment Date (and such interest payment                                                                                                                                                                                      |

S-12

| shall therefore be deemed to have been cancelled and thus shall not be due and payable on such Interest Payment Date) if: |

| (a) | the Issuer has an amount of Distributable Items on such Interest Payment Date that is less than the sum of                                                                                                                                         
 (i) all distributions or interest payments made or declared by the Issuer since the end of the last financial year and prior to such Interest Payment Date on or in respect of any Parity Securities, the Securities and any Junior Securities and 
 (ii) all distributions or interest payments payable by the Issuer (and not cancelled or deemed cancelled) on such Interest Payment Date (x) on the Securities and (y) on or in respect of any Parity Securities, in the case of each of            
 (i) and (ii), excluding any payments already accounted for in determining the Distributable Items; or                                                                                                                                              |

| (b) | the Solvency Condition (as defined herein under “Description of Fixed Rate Resetting Perpetual                 
 Subordinated Contingent Convertible Securities—Ranking”) is not satisfied in respect of such interest payment. |

| The Issuer may, in its sole discretion, elect to make a partial interest payment on the Securities on any Interest Payment Date, only to the extent that such partial interest payment may be made without breaching the restrictions in the 
 preceding paragraph. See also “Description of Fixed Rate Resetting Perpetual Subordinated