Company: BCS
Filing Date: 2025-02-21
Form Type: 424B2
Source: 0001193125-25-031790
Chunk: 86

Company: BARCLAYS PLC
Filing Date: 2025-02-21
Form: 424B2
Chunk 86
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 to the decision to invest such Plan’s assets in the notes.

Prohibited Transactions

Section 406 of ERISA and Section 4975 of the Code prohibit Plans from engaging in certain transactions involving “plan
assets” with persons who are “parties in interest” under ERISA or “disqualified persons” under the Code with respect to the Plan. A violation of these prohibited transaction rules may result in excise tax or other
liabilities under ERISA or the Code for those persons, unless exemptive relief is available under an applicable statutory, regulatory or administrative exemption. Employee benefit plans that are governmental plans (as defined in Section 3(32)
of ERISA), certain church plans (as defined in Section 3(33) of ERISA) and non-U.S. plans (as described in Section 4(b)(4) of ERISA) (“Non-ERISA
Arrangements”) are not subject to the requirements of Section 406 of ERISA or Section 4975 of the Code but may be subject to similar provisions under applicable federal, state, local, non-U.S.
or other laws (“Similar Laws”).

The Transaction Parties may be considered a party in interest or disqualified person with
respect to many Plans. The acquisition and holding of the notes by a Plan with respect to which any Transaction Party is or becomes a party in interest or disqualified person may result in a prohibited transaction under ERISA or Section 4975 of
the Code, unless the notes are acquired and held pursuant to an applicable exemption. The U.S. Department of Labor has issued five prohibited transaction class exemptions, or “PTCEs,” that may provide exemptive relief if required for
direct or indirect prohibited transactions that may arise from the purchase or holding of the notes. These exemptions are PTCE 84-14 (for certain transactions determined by independent qualified professional
asset managers), PTCE 90-1 (for certain transactions involving insurance company pooled separate accounts), PTCE 91-38 (for certain transactions involving bank
collective investment funds), PTCE 95-60 (for transactions involving certain insurance company general accounts), and PTCE 96-23 (for transactions managed by in-house asset managers). In addition, ERISA Section 408(b)(17) and Section 4975(d)(20) of the Code provide an exemption for the purchase and sale of the notes, provided that neither the Issuer nor any of
its affiliates has or exercises any discretionary authority or control or renders any investment advice with