Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 69

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 69
---
 duty consequences for them of holding the Securities prior to such substitution or variation.

There can be no assurance as to how the terms of any Compliant Securities resulting from any such substitution or variation will be viewed by
the market or whether any such Compliant Securities will trade at prices that are at least equivalent to the prices at which the substituted or varied Securities would have traded on the basis of their original. Therefore, there can be no assurance
that the Compliant Securities will not have a significant adverse impact on the price of, and/or market for, the Securities or the circumstances of individual holders. In addition, any such substitution or variation could have unexpected commercial
consequences depending on the circumstances of an individual holder.

Our obligations under the Securities will be unsecured and subordinated, and the rights of the holders of Conversion Shares will be further subordinated.

Our obligations under the Securities will be
unsecured and subordinated to all of the Issuer’s existing and future obligations to Senior Creditors (as defined under “Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Ranking”
below). In addition, payment of principal or interest in respect of the Securities cannot be made in respect of the Securities except to the extent that the Issuer could make such payment and still satisfy the Solvency Condition (as defined under
“Description of Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities—Ranking” below) immediately thereafter. The Insolvency Act splits a financial institution’s
non-preferential debts into classes, and provides that ordinary non-preferential debts will rank ahead of secondary
non-preferential debts and tertiary non-preferential debts. The Securities constitute tertiary non-preferential debts under the
terms of the Insolvency Act, and therefore both ordinary and secondary non-preferential debts would continue to rank ahead of claims in respect of the Securities.

If (a) an order is made, or an effective resolution is passed, for the winding-up of the Issuer
(except in any such case for a solvent winding-up solely for the purpose of a merger, reconstruction or amalgamation); or (b) following the appointment of an administrator of the Issuer, the administrator
gives notice that it intends to declare and distribute a dividend, then, (1) if such events specified in (a) or (b) above occur before the date on which a Capital Adequacy Trigger Event occurs, there shall be payable by the Issuer in