Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 97

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 97
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 replacement of the Reference Rate with the 
 Successor Rate by any Relevant Nominating Body;                                                               |

| (ii) | in the case of a Successor Rate for which no such recommendation has been made or in the case of an Alternative                                                                                                                                        
 Reference Rate, the Independent Adviser (in consultation with the Issuer) or the Issuer (as applicable) determines is recognized or acknowledged as being in customary market usage in international debt capital markets transactions which reference 
 the Reference Rate, where such rate has been replaced by the Successor Rate or the Alternative Reference Rate (as applicable); or                                                                                                                      |

| (iii) | if no such customary market usage is recognized or acknowledged, the Independent Adviser (in consultation with                                            
 the Issuer) or the Issuer in its discretion (as applicable), determines (acting in good faith and in a commercially reasonable manner) to be appropriate; |

“Alternative Reference Rate” means the rate that the Independent Adviser or the Issuer (as applicable) determines has replaced the Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest in respect of bonds denominated in U.S. dollars and of a five year duration or, if the Independent Adviser or the Issuer (as applicable) determines that there is no such rate, such other rate as the Independent Adviser or the Issuer (as applicable) determines in its discretion (acting in good faith and in a commercially reasonable manner) is most comparable to the Reference Rate; “Benchmark Event” means:

| (i) | the Reference Rate has ceased to be published as a result of such benchmark ceasing to be calculated or 
 administered; or                                                                                        |

| (ii) | a public statement by the administrator of the Reference Rate that it has ceased, or will cease, publishing the                                                            
 Reference Rate permanently or indefinitely (in circumstances where no successor administrator has been appointed that will continue publication of the Reference Rate); or |

S-60

| (iii) | a public statement by the supervisor of the administrator of the Reference Rate that the Reference Rate has 
 been or will be permanently or indefinitely discontinued; or                                                |

| (iv) | a public statement by the supervisor of the administrator of the Reference Rate as a consequence of which the                                                                   
 Reference Rate will be prohibited from being used or that its use will be subject to restrictions or adverse consequences either generally, or in respect of the Securities; or |

| (v) | a public statement by the supervisor of the administrator of the Reference Rate