Commentary & Deal Flow

IPTs: 5NC4: SARON MS+85/90bp 8NC7: SARON MS+105/110bp

• Issuer: Barclays PLC (Ticker: BACR)
• Issuer Domicile: United Kingdom
• Rating Split: Issuer: Baa1/BBB+/A (Moody's/S&P/Fitch), Issue: Baa1/BBB+/A (Moody's/S&P/Fitch)
• Format: Fixed Rate Resetting Senior Callable Notes
• Status: Senior, Unsecured, Unsubordinated
• Size: CHF Benchmark (each tranche)
• Settlement Date: 24-Jun-26
• Maturity Date:
• • 5NC4: 24-Jun-31
  • 8NC7: 24-Jun-34
• Optional Redemption Date (Call):
• • 5NC4: 24-Jun-30
  • 8NC7: 24-Jun-33
• Coupon:
• • 5NC4: 1.1% p.a. (indicative, expected to price at par) until the Call Date. Thereafter the sum of 1y CHF SARON MS and the initial spread margin
  • 8NC7: 1.50% p.a. (indicative, expected to price at par) until the Call Date. Thereafter the sum of 1y CHF SARON MS and the initial spread margin
• IPTs:
• • 5NC4: SARON MS +85.0 /+90.0 // YTM 1.085% /1.135% // Govt.+93 /+98
  • 8NC7: SARON MS +105.0 /+110.0 // YTM 1.468% /1.518% // Govt.+122 /+127
• Lead Manager(s): Commerzbank, DB, UBS, Barclays (JLNB)
• SNB Repo-eligibility: At the discretion of the SNB, expected no
• Documentation: Issued off the Debt Issuance Programme Base Prospectus dated 24-Feb-26, as supplemented on 29-Apr-26 (the “Prospectus”).
• FinSA Prospectus: Delayed prospectus approval in accordance with art. 51(2) FinSA
• Governing Law: English
• Covenants: PP
• SIX Listing: 22-Jun-26
• Denomination: CHF 200,000 and multiples thereof
• Sales Restrictions: United States (Reg S, Cat 2), UK, EEA, France, Canada, Japan, PRC, HongKong, Norway, Singapore, Australia and the Republic of Italy as more fullydescribed in the Subscription and Sale section as set out in the Prospectus
• Target Market: Manufacturer target market (MiFID II/UK MIFIR product governance) is eligible counterparties and professional clients (all channels for distribution channels). Public Offering in Switzerland only.
• Timing: Today's business