Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 79

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 79
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The remedies under the Securities are more limited than those typically available to our unsubordinated creditors. No interest will be due and
payable if such interest has been cancelled or deemed cancelled (in each case, in whole or in part) as described under “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Interest Cancellation” below. Accordingly, no default in payment or otherwise under the Securities will have occurred or be deemed to have occurred in such circumstances.

Following the occurrence of an Automatic Conversion, all of the Issuer’s obligations under the Securities (other than the CSO
Obligations, if any) shall be irrevocably and automatically released in consideration of the Issuer’s issuance of the Conversion Shares to the Conversion Shares Depository (or to the relevant recipient in accordance with the terms of the
Securities) on the Conversion Date, and no principal or interest can become due and payable after such date. An Automatic Conversion will not constitute a default or a Winding-up Event under the Indenture.

S-48

Under the terms of the Indenture, the exercise of the U.K.
Bail-in Power by the Relevant U.K. Resolution Authority with respect to the Securities is not a Winding-up Event, a Non-Payment
Event, a default in payment or otherwise.

For further detail regarding the limited remedies of the Trustee and the holders of the
Securities, see “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Enforcement Events and Remedies” and “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Trustee’s Duties” in this prospectus supplement.

Waiver of set-off

Holders of the Securities waive any right of set-off, compensation, counterclaim, retention
and netting in relation to the Securities insofar as permitted by applicable law. Therefore, holders of the Securities will not be entitled (subject to applicable law) to exercise, claim or plead any right of
set-off, compensation, counterclaim, retention or netting in respect of the Issuer’s obligations under the Securities against obligations owed by them to the Issuer. Holders of the Securities may
therefore be required to initiate separate proceeding to recover amounts in respect of any counterclaim and may receive a lower recovery in the event of a winding-up or administration of the Issuer than if set-off, compensation, counterclaim, retention or netting were