Commentary & Deal Flow

Spread set at: 5NC4: SARON MS+87bp 8NC7: SARON MS+108bp
Guidance: 5NC4: SARON MS+85/90bp 8NC7: SARON MS+105/110bp
IPTs: 5NC4: SARON MS+85/90bp 8NC7: SARON MS+105/110bp

• Issuer: Barclays PLC (Ticker: BACR)
• Issuer Domicile: United Kingdom
• Format: Fixed Rate Resetting Senior Callable Notes
• Status: Senior, Unsecured, Unsubordinated
• Issuer Rating: Baa1/BBB+/A (Moody's/S&P/Fitch)
• Instrument Rating (exp): Baa1/BBB+/A (Moody's/S&P/Fitch)
• Issue Size: Min. CHF 150m (5NC4) / Min. CHF 190m (8NC7)
• Coupon:
• • 5NC4: 1.10% 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
• Settlement Date: 24-Jun-26
• Optional Redemption Date (Call):
• • 5NC4: 24-Jun-30
  • 8NC7: 24-Jun-33
• Maturity Date:
• • 5NC4: 24-Jun-31
  • 8NC7: 24-Jun-34
• Lead Manager(s): Deutsche Bank, Commerzbank, 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 February 2026, as supplemented on 29 April 2026 (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, Hong Kong, Norway, Singapore, Australia and the Republic of Italy as more fully described 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: Books close 11.40 CET, pricing shortly thereafter