Company: BCS
Filing Date: 2025-02-19
Form Type: 424B2
Source: 0001193125-25-029335
Chunk: 35

Company: BARCLAYS PLC
Filing Date: 2025-02-19
Form: 424B2
Chunk 35
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 in respect of any determination, the Benchmark Replacement Date will 
 be deemed to have occurred prior to the Reference Time for such determination.                                                                                                                                              |

| ISDA Fallback Rate | “ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor 
 excluding the applicable ISDA Fallback Adjustment.                                                                                                                                                                                       |

| “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. (“ISDA”) or any successor thereto, as amended or supplemented from time to 
 time, or any successor definitional booklet for interest rate derivatives published from time to time.                                                                                               |

| “ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that 
 would apply for derivatives transactions referencing the ISDA Definitions to be                                 |

S-20

| determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. |

| Notice of Benchmark Replacement | We will promptly give notice of the determination of the Benchmark Replacement, the Benchmark Replacement Adjustment and any Benchmark Replacement Conforming Changes to the Trustee, any paying agent, the Calculation Agent and the 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