Company: BCS
Filing Date: 2025-02-21
Form Type: 424B2
Source: 0001193125-25-031790
Chunk: 23

Company: BARCLAYS PLC
Filing Date: 2025-02-21
Form: 424B2
Chunk 23
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 noteholders; 
 provided that failure to provide such notice will have no impact on the effectiveness of, or otherwise invalidate, any such determination.                                                                                                         |

| No Prejudice to Treatment under Capital Regulations | Notwithstanding the foregoing, no Benchmark Replacement will be adopted if and to the extent that the Issuer determines, in its sole discretion, that such Benchmark Replacement prejudices, or could reasonably be expected to prejudice, after the 
 application of the applicable Benchmark Replacement Adjustment, the Benchmark Replacement Conforming Changes and the further decisions and determinations as set out under “Description of Senior Notes—Calculation of the                           
 Benchmark—Benchmark Transition Provisions”, the then current eligible liabilities qualification of the notes, in each case for the purposes of and in accordance with the Capital Regulations (“Derecognition Risk”).                                |

| Decisions and Determinations | All determinations, decisions, elections and any calculations made by us, the Calculation Agent or our designee for the purposes of calculating the applicable interest on the notes will be conclusive and binding on the noteholders, us, the           
 Trustee and any paying agent, absent manifest error. If made by our designee, such determinations, decisions, elections and calculations will be made after consulting with us, and our designees will not make any such determination, decision,         
 election or calculation to which we object. Notwithstanding anything to the contrary in the Indenture or the notes, any determinations, decisions, calculations or elections made in accordance with this provision will become effective without consent 
 from the noteholders or any other party.                                                                                                                                                                                                                  |

| Agreement with Respect to the Benchmark Replacement | By its acquisition of the notes, each noteholder (which, for these purposes, includes each beneficial owner) (i) will acknowledge, accept, consent                                                                        
 and agree to be bound by our or our designee’s determination of a Benchmark Transition Event, a Benchmark Replacement Date, the Benchmark Replacement, the Benchmark Replacement Adjustment and any Benchmark Replacement |

S-17

| Conforming Changes, including as may occur without any prior notice from us and without the need for us to obtain any further consent from such noteholder, (ii) will waive any and all                                                                   
 claims, in law and/or in equity, against the Trustee, any paying agent and the Calculation Agent or our designee for, agree not to initiate a suit against the Trustee, any paying agent and the Calculation Agent or our designee in respect of, and     
 agree that none of the Trustee,