Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 85

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 85
---
 implementing legislation, a 30% withholding tax may be imposed
on all or some of the payments on the Securities and Conversion Shares, if those payments are treated as “foreign passthru payments,” to holders of the Securities and non-U.S. financial institutions
receiving payments on behalf of such holders that, in each case, fail to comply with information reporting, certification and related requirements. Under current regulations, the term “foreign passthru payments” is not defined, and it is
not yet clear whether or to what extent payments on the Securities and Conversion Shares may be subject to this withholding tax. However, the U.S. Internal Revenue Service (the “IRS”) has indicated that it will not apply withholding tax to
any foreign passthru payments made prior to two years after the date on which final regulations on this issue are published. This withholding tax, if it applies, could apply to any payment made with respect to the Securities and Conversion Shares,
including payments of both principal and interest. Moreover, withholding may be imposed at any point in a chain of payments if a non-U.S. payee fails to comply with U.S. information reporting, certification
and related requirements. Accordingly, Securities and Conversion Shares held through a non-compliant institution may be subject to withholding even if the holder of the Securities otherwise would not be
subject to withholding.

If withholding is required in respect of this withholding tax, the Issuer will not be required to pay any
additional amounts with respect to any amounts withheld. Holders of the Securities are urged to consult their tax advisers and any banks or brokers through which they will hold the Securities and Conversion Shares as to the consequences (if any) of
these rules to them.

The market continues to develop in relation to near risk-free rates (including overnight rates)

Investors should be aware that the market continues to develop in relation to near risk-free rates (“RFRs”), such as SOFR as a
reference rate in the capital markets for U.S. dollars, and their adoption as alternatives to the relevant interbank offered rates. This relates not only to the substance of the calculation and the development and adoption of market infrastructure
for the issuance and trading of bonds referencing such rates, but also how widely such rates and methodologies might be adopted. RFRs, such as SOFR, may differ from interbank offered rates in a number of material components, including (without
limitation) by being backwards-looking, calculated on a compounded or weighted average basis, near risk free, overnight rates