Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 74

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 74
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 the Issuer to satisfy its
obligations under the Securities and could lead to holders of the Securities losing some or all of the value of their investment in the Securities. The bail-in tool contains an express safeguard (known as
“no creditor worse off”) with the aim that shareholders and creditors do not receive a less favorable treatment than they would have received in ordinary insolvency proceedings. However, even in circumstances where a claim for compensation
is established under the “no creditor worse off” safeguard in accordance with a valuation performed after the resolution action has been taken, it is unlikely that such compensation would be equivalent to the full losses incurred by the
holders of the Securities in the resolution and there can be no assurance that holders of the Securities would recover such compensation promptly.

Mandatory write-down and conversion of capital instruments may affect the Securities.

In addition, the Banking Act grants the power to the Relevant U.K. Resolution Authority to cancel, transfer or dilute Common Equity Tier 1
instruments, permanently write-down, or convert into equity, Additional Tier 1 Capital instruments (such as the Securities), Tier 2 Capital instruments and internal eligible liabilities at the point of
non-viability of the relevant entity and before, or together with, the exercise of any resolution powers conferred by the SRR (except in the case where the bail-in tool
is to be utilized for other liabilities, in which case such capital instruments or internal eligible liabilities would be written down or converted into equity pursuant to the exercise of the bail-in tool, as
described above, rather than the mandatory write-down and conversion power).

Holders of the Securities may be subject to write-down or
conversion into equity on application of such powers (without requiring the consent of such holders), which may result in such holders losing some or all of their investment or the Securities being converted into ordinary shares at a rate that may
deliver fewer ordinary shares than if the Securities were to be converted into ordinary shares in accordance with their terms. The “no creditor worse off” safeguard would not apply in relation to an application of such powers to capital
instruments such as these Securities in circumstances where resolution powers are not also exercised.

The exercise of such mandatory
write-down and conversion power under the Banking Act or any suggestion of such exercise could, therefore, materially adversely affect the rights of holders of the Securities, the price or value of their investment in the Securities and/or the
ability of the Issuer to satisfy its obligations under the Securities.

See “—The Issuer is a