Company: BCS
Filing Date: 2025-02-19
Form Type: 424B2
Source: 0001193125-25-029335
Chunk: 87

Company: BARCLAYS PLC
Filing Date: 2025-02-19
Form: 424B2
Chunk 87
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 no maturity is within three months before or after the
applicable Fixed-to-Floating Rate Notes Par Redemption Date, yields for the two published maturities most closely corresponding to the Optional Redemption Comparable
Treasury Issue shall be determined and the Optional Redemption Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding to the nearest month); or (2) if such release (or any successor release) is
not published during the week immediately prior to the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Optional Redemption Comparable Treasury Issue, calculated using
a price for the Optional Redemption Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Optional Redemption Comparable Treasury Price for such redemption date; provided that, if the period from the redemption
date to the applicable Fixed-to-Floating Rate Notes Par Redemption Date is less than one year, the weekly average yield on actually traded U.S. Treasury securities
adjusted to a constant maturity of one year will be used.

The Optional Redemption Treasury Rate shall be calculated by the Determination
Agent on the third Business Day preceding the redemption date.

In determining the Optional Redemption Treasury Rate, the below terms will
have the following meaning:

“Optional Redemption Comparable Treasury Issue” means, with respect to the redemption date, the
U.S. Treasury security selected by the Determination Agent as having an actual or interpolated maturity comparable with the remaining term to the relevant
Fixed-to-Floating Rate Notes Par Redemption Date, that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities denominated in U.S. dollars and of comparable maturity to the remaining term to such Fixed-to-Floating Rate Notes Par Redemption
Date.

“Optional Redemption Comparable Treasury Price” means, with respect to the redemption date, (i) the arithmetic
average of the Optional Redemption Reference Treasury Dealer Quotations for such redemption date (calculated on the third Business Day preceding such redemption date), after excluding the highest and lowest such Optional Redemption Reference
Treasury Dealer Quotations, or (ii) if fewer than five such Optional Redemption Reference Treasury Dealer Quotations are received, the arithmetic average of all such quotations, or (iii) if fewer than two such Optional Redemption Reference
Treasury Dealer Quotations are received, then such Optional Redemption Reference Treasury Dealer Quotation.

“Determination
Agent” means an investment bank or financial institution of