Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 95

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 95
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 Rate (or the relevant component part thereof) remains to be determined by reference to the Reference Rate, then the Issuer may elect (acting in good faith and in a commercially reasonable manner) to apply the following provisions:

| (i) | the Issuer shall use reasonable endeavors to appoint, as soon as reasonably practicable, an Independent Adviser                                                                                                                                                                                                
 to determine (acting in good faith and in a commercially reasonable manner), no later than five (5) Business Days prior to the relevant Reset Determination Date relating to the next succeeding Reset Period (the “IA Determination Cut-off Date”), a Successor Rate (as defined below) or, alternatively, if |

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| the Independent Adviser determines that there is no Successor Rate, an Alternative Reference Rate (as defined below) for purposes of determining the Subsequent Interest Rate (or the relevant 
 component part thereof) applicable to the Securities;                                                                                                                                          |

| (ii) | if the Issuer is unable to appoint an Independent Adviser, or the Independent Adviser appointed by it fails to                                                                                                   
 determine a Successor Rate or an Alternative Reference Rate prior to the IA Determination Cut-off Date, the Issuer (acting in good faith and in a commercially reasonable manner) may determine a Successor Rate 
 or, if the Issuer determines that there is no Successor Rate, an Alternative Reference Rate;                                                                                                                     |

| (iii) | if a Successor Rate or, failing which, an Alternative Reference Rate (as applicable) is determined in                                                                                                                                                                                                                                                                                                                          
 accordance with the preceding provisions, such Successor Rate or, failing which, an Alternative Reference Rate (as applicable) shall be used in place of the Reference Rate as a component part for determining the relevant Mid-Market Swap Rate in respect of each of the future Reset Periods (subject to the subsequent operation of, and to adjustment as provided in, this section “Determination of Subsequent Interest 
 Rate— Benchmark Replacement Event”); provided, however, that if sub-paragraph (ii) applies and the Issuer is unable to or does not determine a Successor Rate or an Alternative                                                                                                                                                                                                                                                
 Reference Rate prior to the relevant Reset Determination Date, the Subsequent Interest Rate applicable to the next succeeding Reset Period shall be equal to the Subsequent Interest Rate last determined in relation to the Securities in respect of the                                                                                                                                                                      
 preceding Reset Period (or alternatively, in the case of the first Reset Period, the rate of interest shall be the Initial Interest Rate); for the avoidance