Company: BCS
Filing Date: 2025-08-06
Form Type: 424B2
Source: 0001193125-25-174548
Chunk: 34

Company: BARCLAYS PLC
Filing Date: 2025-08-06
Form: 424B2
Chunk 34
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 result that they may perform differently than in the past, or the benchmark could be eliminated entirely, or there could be other consequences that cannot be predicted. Any of the foregoing may have
an adverse effect on the value of the notes.

S-35

Interest on the 2029 notes during the 2029 Notes Floating Rate Period, on the 2046 notes during the 2046 Notes Floating Rate Period and on the floating rate notes will be calculated using the Benchmark Replacement if a Benchmark Transition Event occurs.

To the extent SOFR is discontinued or is no longer quoted, floating interest rates will be determined using the alternative methods described
under “Description of Senior Notes—Calculation of the Benchmark—Benchmark Transition Provisions.”

In
particular, if we or our designee (in consultation with us) determine that a Benchmark Transition Event and related Benchmark Replacement Date have occurred, we or our designee (in consultation with us) will use the Benchmark Replacement for the
purposes of determining the floating interest rates, as well as to make certain changes to the manner in which floating interest rates are calculated or determined.

This Benchmark Replacement may result in interest payments that are lower than, or that do not otherwise correlate over time with, the
payments that would have been made on the notes if SOFR was available in its current form. Additionally, if SOFR is no longer calculated or administered, no Benchmark Replacement is calculated (including because the same costs and risks that may
lead to the discontinuation or unavailability of SOFR make the Benchmark Replacement impossible or impracticable to determine) or a Derecognition Risk arises, the floating interest rate on the notes for the relevant Floating Rate Interest Period may
accrue at the same rate as the immediately preceding Floating Rate Interest Period (or, in the case of the initial 2029 Notes Floating Rate Interest Period, the 2029 Notes Fixed Interest Rate, in the case of the initial 2046 Notes Floating Rate
Interest Period, the 2046 Notes Fixed Interest Rate and, in the case of the initial Floating Rate Notes Interest Period, the initial rate of interest which would have been applicable to the floating rate notes for the first Floating Rate Notes
Interest Period had the floating rate notes been outstanding for a period equal in duration to the scheduled first Floating Rate Notes Interest Period but ending on (and excluding) the Issue Date (and applying the Floating Rate Notes Margin), as
applicable), effectively converting the 2029 notes (during the relevant 2029 Notes Floating Rate Interest