Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 23

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 23
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 the U.K. Insolvency Act 1986, as amended or replaced from time to time (the “Insolvency Act”), the Securities will constitute tertiary non-preferential debts of the Issuer and                                                                    
 therefore both ordinary non-preferential debts and secondary non-preferential debts will rank in priority to the Securities. The terms ‘ordinary non-preferential debt,’ ‘secondary-non preferential debt’ and ‘tertiary non-preferential debt’ shall have the 
 meanings given to each of them in the Insolvency Act.                                                                                                                                                                                                          |

| In addition, see “Risk Factors—Risks Relating to the Securities— The Issuer is a holding company, which means that its right to participate in the assets of any of its subsidiaries (including those of BBPLC, BBUKPLC, Barclays                  
 Execution Services Limited or any other present or future subsidiary) upon the liquidation of such subsidiaries and the extent to which the Issuer suffers losses if it or any of its subsidiaries are subject to bank resolution proceedings, may 
 depend, amongst other things, upon the degree to which the Issuer’s loans to, and investments in, such subsidiaries are subordinated.”                                                                                                             |

| No Set-off | The Securities are subject to the waiver of set-off provisions set forth under “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—No Set-off” below. |

S-14

| their principal amount, together with any accrued but unpaid interest (which excludes any interest cancelled or deemed cancelled as described under “Description of Fixed Rate Resetting        
 Perpetual Subordinated Contingent Convertible Securities—Interest Cancellation—Interest Payments Discretionary” or “—Restriction on Interest Payments” below) to (but excluding) the date fixed 
 for redemption.                                                                                                                                                                                 |

| Any optional redemption will be subject, among other things, to the provisions described under “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Redemption—Notice of 
 Redemption” and “—Condition to Redemption” below.                                                                                                                                                                 |

| Regulatory Event Redemption | We may, at our option, at any time, redeem the Securities, in whole but not in part, upon the occurrence of a Regulatory Event (as defined herein) on the terms and subject to the conditions set forth under “Description of Fixed Rate 
 Resetting Perpetual Subordinated Contingent Convertible Securities—Redemption—Regulatory Event Redemption” below.                                                                                                                        |