Company: BCS
Filing Date: 2025-02-21
Form Type: 424B2
Source: 0001193125-25-031790
Chunk: 145

Company: BARCLAYS PLC
Filing Date: 2025-02-21
Form: 424B2
Chunk 145
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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 contingent
capital securities.

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-enactment thereof
(or in accordance with the corresponding provisions of the applicable laws of such other jurisdiction in which the Issuer may be organized).

Pursuant to the Insolvency Act, the Contingent Capital Securities will constitute tertiary
non-preferential debts of the Issuer and therefore both ordinary non-preferential debts and secondary non-preferential debts will
rank ahead of any claims in respect of the Contingent Capital Securities.

No Set-off

Subject to applicable law and unless the applicable prospectus supplement provides otherwise, no holder of contingent capital securities may
exercise, claim or plead any right of set-off, compensation, counterclaim, retention or netting in respect of any amount owed to it by us arising under, or in connection with, the contingent capital securities
and the Contingent Capital Securities Indenture and each holder of contingent capital securities shall, by virtue of its holding of any contingent capital security (or any beneficial interest therein), be deemed, to the fullest extent permitted
under applicable law, to have waived all such rights of set-off, compensation, counterclaim, retention and netting. Notwithstanding the foregoing, if any amounts due and payable to any holder of the contingent
capital securities by us in respect of, or arising under, the contingent capital securities or the Contingent Capital Securities Indenture are discharged by set-off, compensation, counterclaim, retention or
netting, such holder shall, subject to applicable law and unless the applicable prospectus supplement provide otherwise, immediately pay to us an amount equal to the amount of such discharge (or, in the event of our
winding-up or administration,