Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 94

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 94
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 Event has occurred or that there is a Successor Rate, as set out in the provisions described under “— 
 Benchmark Replacement Event” below), then the Mid-Market Swap Rate shall be the Reset Reference Bank Rate on such Reset Determination Date.                                                                                             |

“Reference Banks” means four major banks in the U.S. dollar swap, money, securities or other market most closely connected with the relevant Mid-MarketSwap Rate, as selected by the Issuer on the advice of an investment bank of international repute. “Reset Reference Bank Rate” means, in relation to a Reset Date and the related Reset Determination Date, the percentage rate determined by the Calculation Agent on the basis of the Five-year Mid-MarketSwap Rate Quotations provided by each of the Reference Banks at approximately 11:00 a.m. (New York time) on the relevant Reset Determination Date (or thereafter on such date), rounded, if necessary, to the nearest 0.001% (with 0.0005% being rounded upwards). If at least three Five-year Mid-MarketSwap Rate Quotations are provided, the Reset Reference Bank Rate will be the arithmetic mean of such Five-year Mid-MarketSwap Rate Quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two Five-year Mid-MarketSwap Rate Quotations are provided, the Reset Reference Bank Rate will be the arithmetic mean of such Five-year Mid-MarketSwap Rate Quotations. If only one Five-year Mid-MarketSwap Rate Quotation is provided, the Reset Reference Bank Rate will be the quotation provided. If no Five-year Mid-MarketSwap Rate Quotations are provided, the Reset Reference Bank Rate will be (i) in respect of the Reset Reference Bank Rate determined in respect of the Reset Date falling on September 15, 2035, 4.111% per annum or (ii) in respect of the Reset Reference Bank Rate determined in respect of any Reset Date other than September 15, 2035, the Mid-MarketSwap Rate in respect of the immediately preceding Reset Date. Benchmark Replacement Event In addition to and notwithstanding the provisions in “— Determination of Subsequent Interest Rate— Mid-MarketSwap Rate and fallbacks” above, if the Issuer determines that a Benchmark Event has occurred or that there is a Successor Rate, in either case when any Subsequent Interest