JO iPath Series B Bloomberg Coffee Subindex TR ETN

THESE RISK FACTORS HIGHLIGHT ONLY SOME OF THE RISKS OF THE NOTES DESCRIBED IN THIS PRELIMINARY PRICING SUPPLEMENT (THE “NOTES”). YOU MUST ALSO READ THE RISK FACTORS IN THE PROSPECTUS SUPPLEMENT. SEEK PROFESSIONAL ADVICE BEFORE MAKING ANY INVESTMENT DECISION.

An investment in the Notes involves significant risks. Investing in the Notes is not equivalent to investing directly in the Index or any of the futures contracts comprising the Index. These risks are explained in more detail in the “Risk Factors” sections of the prospectus supplement, including the risk factors discussed under the following headings:

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In addition to the risks discussed under the headings above, you should consider the following risks set forth below:

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The prices of commodities, including the underlying commodities, can fluctuate widely due to supply and demand disruptions in major producing or consuming regions. In particular, recent growth in industrial production and gross domestic product has made China an oversized user of commodities and has increased the extent to which certain commodities rely on the Chinese markets. Political, economic and other developments that affect China may affect the value of the underlying commodities and, thus, the market value of your Notes. Because certain of the underlying commodities may be produced in a limited number of countries and may be controlled by a small number of producers, political, economic and supply related events in such countries could have a disproportionate impact on the prices of such commodities and therefore, the level of the Index and the market value of your Notes.

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Among other things, the legislation requires that most over-the-counter transactions be executed on organized exchanges or facilities and be cleared through regulated clearing houses, and requires registration of, and imposes regulations on, swap dealers and major swap participants. The legislation also requires the CFTC to adopt rules with respect to the establishment of limits on futures and swap positions that are not entered into or maintained for “bona fide” hedging purposes, as defined in the legislation, and the CFTC had previously adopted such rules. The legislation also requires the CFTC to apply its position limits across the futures positions held by a market participant on any exchange or trading facility, together with its positions in swaps that are “economically equivalent” to the specified exchange-traded futures that are subject to the position limits. The enactment of the Dodd-Frank Act, and the CFTC’s adoption of rules on position limits, could limit the extent to which entities can enter into transactions in exchange-traded futures contracts as well as related swaps and could make participation in the markets more burdensome and expensive. Any such limitations could restrict or prevent our ability to hedge our obligations under the Notes. Industry trade groups filed a lawsuit against the CFTC challenging the rules adopted by the CFTC on position limits. On September 28, 2012, the U.S. District Court for the District of Columbia granted a summary judgment motion in favor of the industry trade groups that vacated and remanded the position limit rules adopted by the CFTC. However, the CFTC may contest this ruling. If the ruling is reversed, the proposed position limits may become effective in the future. In addition, if the ruling is not reversed, the CFTC will promulgate further rules, which may be similar to the rules previously adopted. The rules ultimately adopted by the CFTC will likely limit transactions in the futures and over-the-counter derivative markets and could substantially reduce liquidity and increase market volatility in the commodities futures contracts such as the reference asset. This could in turn adversely affect the prices of such contracts and, in turn, the market value of the Notes and the amounts payable on the Notes. In addition, other parts of the legislation, by increasing regulation of, and imposing additional costs on, swap transactions, could reduce trading in the swap market and therefore in the futures markets, which would further restrict liquidity, increase volatility and adversely affect prices, which could in turn adversely affect the value of the Index.

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Other regulatory organizations have proposed, and in the future may propose, further reforms similar to those enacted by the Dodd-Frank Act or other legislation which could have an adverse impact on the liquidity and depth of the commodities, futures and derivatives markets. For example, the European Commission recently published a proposal developed by the European Securities and Markets Authority (“ESMA)”, which updates the Markets in Financial Instruments Directive, commonly known as “MiFID II,” and the Markets in Financial Instruments Regulation, commonly known as “MiFIR.” The scope of the final regulations and the degree to which member states will be allowed discretion in implementing the directive is yet to be seen. If these regulations are adopted, including, for example, regulations requiring position limits, they could substantially reduce liquidity and increase volatility in the commodities futures contracts such as those underlying the Index, which could adversely affect the prices of such contracts and, in turn, the market value of the Notes and the amounts payable on the Notes at maturity. The European Commission has also adopted the European Market Infrastructure Regulation (“EMIR”), which requires many OTC derivatives to be centrally cleared and, together with technical standards published and to be published by ESMA, will establish margin and capital requirements for non-centrally cleared OTC derivatives. There exists potential for inconsistency between regulations issued by the CFTC and technical standards adopted under EMIR, which could lead to market fragmentation.

These factors interrelate in complex ways, and the effect of one factor on the market value of your Notes may offset or enhance the effect of another factor.

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We or one or more of our affiliates may also engage in trading in Index Contracts, futures or options on Index Contracts, the physical commodities underlying the Index Contracts or the Index, and other investments relating to Index Contracts or the Index on a regular basis as part of our general broker-dealer and other businesses, for proprietary accounts, for other accounts

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under management or to facilitate transactions for customers. Any of these activities could adversely affect the market price of the Index Contracts or the value of the Index and, therefore, the market value of the Notes. We or one or more of our affiliates may also issue or underwrite other securities or financial or derivative instruments with returns linked or related to changes in the performance of any of the foregoing. By introducing competing products into the marketplace in this manner, we or one or more of our affiliates could adversely affect the market value of the Notes. With respect to any of the activities described above, neither Barclays Bank PLC nor its affiliates has any obligation to take the needs of any buyer, seller or holder of the Notes into consideration at any time.

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The calculation agent will exercise its judgment when performing its functions. For example, the calculation agent may have to determine whether a market disruption event with respect to the Notes has occurred or is continuing on the final valuation date. This determination may, in turn, depend on the calculation agent’s judgment as to whether the event has materially interfered with our ability to unwind our or our affiliates’ hedge positions. Since these determinations by the calculation agent may affect the market value of the Notes, the calculation agent may have a conflict of interest if it needs to make any such decision.

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Overview

The Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index ^TM (the “Index”; Bloomberg ticker: “BCC3C3UP<Index>”) is a Barclays proprietary commodities index that is designed to reflect the returns that are potentially available through the application of the Roll Yield, Seasonal or Momentum Alpha Methodologies (each, an “ Enhancement Methodology ” and together, the “ Enhancement Methodologies ”), each as described further below, to the futures contracts for certain underlying physical commodities. The commodities underlying the Index are selected so as to correspond to the commodities included at any given time in the Dow Jones-UBS Commodity Index—Excess Return (the “ Reference Index ” or the “ DJ-UBSCI ^SM” ; Bloomberg ticker: “DJUBS Index”). Additionally, the relative target weightings of the commodities underlying the Index are adjusted on a monthly basis (as further described below) to approximate the target weightings of the commodities included in the Reference Index.

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The Enhancement Methodologies

The Index is comprised of a basket of exchange-traded futures contracts for the underlying commodities included at any given time in the Reference Index, which are rolled on a monthly basis. As further described in the section entitled “The Commodity Futures Markets” below, futures contracts are, by their terms, subject to expiration and investors seeking to maintain exposure to such future contracts are required to close out their position in the expiring futures contract and establish a new position in a futures contract with a later expiry date, a process referred to as “rolling”.

Traditional commodity indices generally roll their exposure in the expiring futures contracts comprising the index into the “next nearby” futures contracts (or the contract closest to expiration that satisfies the pre-determined roll schedule of the relevant index). By comparison, the Index applies the following Enhancement Methodologies to select one of a series of futures contracts, which may have more distant expirations, into which the Index rolls its exposure in the current futures contract:

Through the application of these Enhancement Methodologies to different physical commodities, the Index seeks to provide returns that outperform the underlying Reference Index. For more information on the rules-based criteria used to select the futures contract in each Enhancement Methodology and the underlying commodities to which Enhancement Methodology is applied, see “Contract Selection Through the Application of the Enhancement Methodologies” below.

The Index is an excess return index reflecting the price return and the roll yield of the relevant futures contract and excludes the Treasury bill return, as described further under the section “The Commodity Futures Markets” herein.

The Index was launched on May 11, 2010 by Barclays Bank PLC (the “ Index Sponsor ”) with an initial level set to 100 as of December 30, 1999. The Reference Index and, therefore, the Index currently includes the 20 commodities specified in Table 1 below.

The Commodity Futures Markets

Futures contracts on physical commodities and commodity indices are traded on regulated futures exchanges, and physical commodities and other derivatives on physical commodities and commodity indices are traded in the over-the-counter market and through various types of physical and electronic trading facilities and markets. At present, all of the contracts reflected in the Index and the Reference Index are exchange-traded futures contracts. An exchange-traded futures contract provides for the purchase and sale of a specified type and quantity of a commodity or financial instrument during a stated delivery month for a fixed price. A futures contract on an index of commodities provides for the payment and receipt of cash based on the level of the index at settlement or liquidation of the contract. A futures contract provides for a specified settlement month in which the cash settlement is made or in which the commodity or financial instrument is to be delivered by the seller (whose position is therefore described as “short”) and acquired by the purchaser (whose position is therefore described as “long”).

There is no purchase price paid or received on the purchase or sale of a futures contract. Instead, an amount of cash or cash equivalents must be deposited with the clearing house or brokerage firm as “initial margin”. This amount varies based on the requirements imposed by the exchange clearing houses, but may be lower than 5% of the notional value of the contract. This margin deposit provides collateral for the obligations of the parties to the futures contract.

By depositing margin, which may vary in form depending on the exchange, with the clearing house or brokerage firm involved, a market participant may be able to earn interest on its margin funds, thereby increasing the total return that it may realize from an investment in futures contracts. The market participant normally makes to, and receives from, the broker subsequent daily payments as the price of the futures contract fluctuates. These payments are called “variation margin” and are made as the existing positions in the futures contract become more or less valuable, a process known as “marking to the market”. Futures contracts are traded on organized

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exchanges, known as “designated contract markets” in the United States. At any time prior to the expiration of a futures contract, subject to the availability of a liquid secondary market, a market participant may elect to close out its position by taking an opposite position on the exchange on which the market participant obtained the initial position. This operates to terminate the position and fix the market participant’s profit or loss.

Futures contracts are cleared through the facilities of a centralized clearing house and a brokerage firm, referred to as a “futures commission merchant”, which is a member of the clearing house. The clearing house guarantees the performance of each clearing member that is a party to a futures contract by, in effect, taking the opposite side of the transaction. Clearing houses do not guarantee the performance by clearing members of their obligations to their customers.

Unlike equity securities, futures contracts, by their terms, have stated expirations and, at a specified point in time prior to expiration, trading in a futures contract for the current delivery month will cease. As a result, a market participant wishing to maintain its exposure to a futures contract on a particular commodity must close out its position in the expiring contract (the “ Nearby Future ”, “ current futures contract ” or “ Lead Futures ”) and establish a new position in a contract with a later-dated delivery month, a process referred to as “rolling”. For example, a market participant with a long position in November crude oil futures that wishes to maintain a position in the nearest delivery month may, as the November contract nears expiration, sell November futures, which serves to close out the existing long position, and buy December futures. This would “roll” the November position into a December position, and, when the November contract expires, the market participant would still have a long position in the first nearby delivery month.

Traditional commodity indices, such as the Reference Index, generally roll into the futures contract expiring in the next nearest delivery month (or the contract closest to expiration that satisfies such indices’ pre-determined roll schedule) (each such contract, a “ Next Nearby Future ”, “ roll futures contract ” or “Next Futures ”). However, in the case of the Index (as described further under the section entitled “Contract Selection Through the Application of the Enhancement Methodologies” below), the new contract that is selected each month might be any of a number of longer-dated futures contracts, and not necessarily the contract with the next nearest delivery month.

The return from investing in a futures contract derives from the price return (changes in the price of the relevant futures contract), the roll yield, and any interest earned (typically based on the 3-month U.S. Treasury bill rate) on the cash deposited as the initial margin for the purchase of the relevant futures contract (the “ Treasury bill return ”). A total return index comprised of futures contracts reflects returns from all three sources — price return, roll yield, and Treasury bill return. An excess return index comprised of futures contracts reflects the price return and the roll return of the relevant futures contracts but does not include Treasury bill return. The Index is an excess return index.

Roll yield may be generated as a result of holding futures contracts. When longer-dated contracts are priced lower than the nearer contract and spot prices, the market is in “backwardation”, and positive roll yield may be generated when higher-priced near-term futures contracts are “sold” to “buy” and hold lower priced longer-dated contracts. When the opposite is true and longer-dated contracts are priced higher than the nearer contracts and spot prices, the market is in “contango”, and negative roll yields may result from the “sale” of lower priced near-term futures contracts to “buy” and hold higher priced longer-dated contracts.

Futures exchanges and clearing houses in the United States are subject to regulation by the Commodity Futures Trading Commission (the “ CFTC ”). The CFTC and the exchanges have previously adopted and in the future may adopt or amend rules and take other actions that affect trading, including imposing speculative position limits, maximum price fluctuations and trading halts and suspensions and requiring liquidation of contracts in certain circumstances. Futures markets outside the United States are generally subject to regulation by comparable regulatory authorities. The structure and nature of trading on non-U.S. exchanges, however, may differ from this description.

The Reference Index

The Index is designed to provide exposure to the same commodities that are included in the Dow Jones-UBS Commodity Index—Excess Return (“ Reference Index ” or the “ DJ-UBSCI ”; Bloomberg ticker: “DJUBS Index”), and, therefore, the group of physical commodities underlying the Index replicates the composition of the Reference Index. The Reference Index is designed to be a benchmark for commodities as an asset class, and to reflect the returns that are potentially available through an unleveraged investment in the futures contracts on the physical commodities comprising the Reference Index. The Reference Index is calculated by CME Group Index Services LLC (“ CME Indexes ”), a joint venture between CME Group Inc. and Dow Jones & Company, Inc., and is published by S&P Dow Jones Indices in conjunction with UBS Securities LLC (“ UBS ”). The Reference Index was launched on July 14, 1998.

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As described below, the Reference Index currently includes 20 commodities out of 24 commodities eligible for inclusion. In any subsequent year, the Reference Index may include eligible commodities not included for 2013, or may remove commodities that were included in 2013 or previous years, which decision generally would be implemented as part of the Reference Index’s January rebalancing process. Since the Index is calculated in accordance with the Reference Index methodology, with the adjustments described in this Preliminary Pricing Supplement, to the degree any commodity is added to or removed from the Reference Index, it will likewise be added to or removed from the Index over the relevant roll period as contemplated in the Reference Index methodology.

We have derived all information contained in this preliminary pricing supplement regarding the Reference Index, including, without limitation, its make up, its method of calculation and changes in its components, from publicly available information. Such information reflects the policies of, and is subject to change by, UBS Securities LLC (“ UBS ”), and S&P Dow Jones Indices LLC (“ S&P Dow Jones Indices ”) (together, the “ Reference Index Sponsors ”).

The Reference Index is the successor to the Dow Jones-AIG Commodity Index and has an identical methodology, form and format as the Dow Jones-AIG Commodity Index. According to publically available information, in 2010, CME Group Inc. and Dow Jones & Company, Inc. announced the launch of a new joint venture company, CME Indexes. Subsequently, in 2012, the McGraw-Hill Companies (“ McGraw-Hill ”) and the CME Group announced the launch of S&P Dow Jones Indices, a joint venture that combines the two index brands, S&P Indices and S&P Dow Jones Indices.

The Reference Index is calculated and published by S&P Dow Jones Indices, in each case, in conjunction with UBS (together, the “ index sponsors ”). In connection with any offering of securities, neither we nor any of our agents or dealers have participated in the preparation of the information described in the first paragraph of this section or made any due diligence inquiry with respect to the index sponsors. Neither we nor any of our agents or dealers have not independently verified or performed due diligence with respect to the accuracy or completeness of such information or any other publicly available information regarding the Reference Index or the index sponsors.

You, as an investor in the Notes, should make your own investigation into any Index and the index sponsors. The index sponsors are not involved in any offer of securities in any way and have no obligation to consider your interests as a holder of the Notes. The index sponsors have no obligation to continue to publish the Reference Index and may discontinue or suspend publication of any Index at any time in their sole discretion.

One or more of UBS and its affiliates may engage in trading in futures contracts and options on futures contracts on the commodities that underlie the Reference Index, as well as commodities, including commodities included in the Reference Index, related indexes and sub-indexes of the Reference Index, and other investments relating to commodities included in the Reference Index, related indexes and sub-indexes of the Reference Index on a regular basis as part of its general business, for proprietary accounts, for other accounts under management, to facilitate transactions for customers or to hedge obligations under products linked to the Reference Index, related indexes or sub-indexes of the Reference Index. Although they are not intended to, any of these activities could adversely affect the market price of the Reference Index components or the value of the DJ-UBS Commodity Index, related indexes and sub-indexes of the Reference Index. It is possible that one or more of UBS and its affiliates could receive substantial returns from these hedging activities while the market value of the commodities that underlie the Reference Index and the value of the Reference Index, related indexes or sub-indexes of the Reference Index decline. With respect to any of the activities described above, neither UBS nor its affiliates has any obligation to take into consideration at any time the needs of any buyer, seller, holder, issuer, market maker of any product linked to the Reference Index, including the notes.

UBS or its affiliates may also issue or underwrite securities or financial or derivative instruments with returns linked or related to changes in the performance of any of the foregoing.

Historical performance of the Reference Index is not an indication of future performance. Future performance of the Reference Index may differ significantly from historical performance, either positively or negatively.

Information contained on certain websites mentioned below is not incorporated by reference in, and should not be considered part of, this preliminary pricing supplement or the accompanying prospectus supplement and prospectus.

Reference Index—Overview

The Reference Index is a non-proprietary index that is designed to be a benchmark for commodities as an asset class. It is composed of futures contracts on physical commodities and is intended to reflect the returns that are potentially available through an unleveraged investment in those contracts.

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Four Main Principles Guiding the Creation of the Reference Index

The Reference Index was created using the following four main principles:

These principles represent goals of the Reference Index, its creators and owners and there can be no assurance that these goals will be reached by the index sponsors.

Oversight of the Reference Index

The index sponsors use a two-tier structure, comprised of a Supervisory Committee and an Advisory Committee, to oversee the Reference Index. The purpose of the two-tier structure is to expand the breadth of input into the decision-making process in respect of the Reference Index, while also providing a mechanism for more rapid reaction in the event of any market disruptions or extraordinary change in market conditions that may affect the Reference Index.

The Supervisory Committee is comprised of three members, two of whom are appointed by UBS and one of whom is appointed by S&P Dow Jones Indices. The Supervisory Committee will make all final decisions relating to the Reference Index, given any advice and recommendations from the Advisory Committee. The Advisory Committee consists of six to twelve members drawn from the financial and academic communities. Both the Supervisory Committee and the Advisory Committee meet annually to consider any changes to be made to the Reference Index for the coming year. These committees may also meet at other times as may be necessary for purposes of their respective responsibilities in connection with the oversight of the Reference Index.

As described in more detail below, the Reference Index is reweighted and rebalanced each year in January on a price-percentage basis. The annual weightings for the Reference Index are determined each year by UBS under the supervision of the Supervisory Committee, announced after approval by the Supervisory Committee and implemented the following January. The composition of the Reference Index for 2013 was approved by the Supervisory Committee and announced in October 2012.

Composition of the Reference Index

Commodities Available for Inclusion in the Reference Index

A number of commodities have been selected that are believed to be sufficiently significant to the world economy to merit consideration for inclusion in the Reference Index and which are tradable through a qualifying related futures contract. With the

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exception of several metals contracts (aluminum, lead, tin, nickel and zinc) that trade on the London Metal Exchange (“ LME ”) and the contract for Brent Crude Oil, each of the potential commodities is the subject of a futures contract that trades on a U.S. exchange. The 24 potential commodities currently considered for inclusion in the Reference Index are: aluminum, cocoa, coffee, copper, corn, cotton, crude oil, gold, heating oil, lead, lean hogs, live cattle, natural gas, nickel, platinum, silver, soybeans, soybean oil, soybean meal, sugar, tin, unleaded gasoline, wheat and zinc.

The 20 Reference Index commodities selected for 2013 are as follows: aluminum, crude oil (Brent crude oil and WTI crude oil), coffee, copper, corn, cotton, gold, heating oil, lean hogs, live cattle, natural gas, nickel, silver, soybeans, soybean oil, soy meal, sugar, unleaded gasoline, wheat (wheat and KCBT wheat) and zinc.

Designated Contracts for Each Commodity

A futures contract known as a designated contract is selected for each commodity. Where UBS believes that there exists more than one futures contract with sufficient liquidity to be chosen as a designated contract for a commodity, UBS has historically selected the futures contract that is traded in North America and denominated in dollars (except in the case of the commodities for which LME contracts have been selected). When more than one such contract has existed, UBS has selected the most actively traded contract. Although there is no current intention to do so, UBS may in the future select contracts that are traded outside of the United States or are traded in currencies other than the U.S. dollar. The process is reviewed by the Supervisory Committee and the Advisory Committee. Data concerning this designated contract will be used to calculate the DJ-UBS Commodity Index. The termination or replacement of a futures contract on an established exchange occurs infrequently; if a designated contract were to be terminated or replaced, a comparable futures contract would be selected, if available, to replace that designated contract.

The Reference Index Is a Rolling Index

The Reference Index is composed of futures contracts on physical commodities. Unlike equities, which typically entitle the holder to a continuing stake in a corporation, commodity futures contracts normally specify a certain date for the delivery of the underlying physical commodity. In order to avoid delivering the underlying physical commodities and to maintain exposure to the underlying physical commodities, periodically futures contracts on physical commodities specifying delivery on a nearby date must be sold and futures contracts on physical commodities that have not yet reached the delivery period must be purchased. The roll for each contract occurs over a period of five DJ-UBS Business Days each month according to a pre-determined schedule. This process is known as “ rolling ” a futures position, and the Reference Index is a “ rolling index ”.

A “ DJ-UBS Business Day ” is a day on which the sum of the Reference Index Percentages (as defined in the section entitled “—Determination of Composition and Weightings of the DJ-UBS Commodity Index” below) for the Reference Index commodities that are open for trading is greater than 50%. For example, based on the weighting of the Reference Index commodities for 2012, if the CME Group which, following CME’s merger with the CBOT in July 2007, now includes the CBOT and the New York Mercantile Exchange (“ NYMEX ”) are closed for trading on the same day, a DJ-UBS Business Day will not exist.

Determination of Composition and Weightings of the Reference Index

The composition and weighting of the Reference Index is determined by UBS, under the supervision of the Supervisory Committee, each year.

In determining which commodities will be included in the Reference Index and their relative weightings for a given year, UBS looks to both liquidity and U.S. dollar-adjusted production data in 2/3 and 1/3 shares, respectively. For each of the 24 commodities designated for potential inclusion in the DJ-UBS Commodity Index, liquidity is measured by the Commodity Liquidity Percentage (“ CLP ”) and production by the Commodity Production Percentage (“ CPP ”). The CLP for each commodity is determined by taking a five-year average of the product of trading volume and the historic U.S. dollar value of the designated contract for that commodity, and dividing the result by the sum of such products for all commodities which were designated for potential inclusion in the DJ-UBS Commodity Index. The CPP is determined for each commodity by taking a five-year average of world production figures, adjusted by the historic U.S. dollar value of the designated contract, and dividing the result by the sum of such production figures for all commodities which were designated for potential inclusion in the DJ-UBS Commodity Index.

The CLP and the CPP are then combined (using a ratio of 2:1) to establish the Reference Index Percentage (“ CIP ”) for each commodity. This CIP is then adjusted in accordance with certain diversification rules in order to determine the commodities which will be included in the Reference Index and their respective percentage weights. The diversification rules are as follows:

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Following the annual reweighting and rebalancing of the Reference Index in January, the percentage of any single commodity or commodity group at any time prior to the next reweighting or rebalancing will fluctuate and may exceed or be less than the percentages set forth above.

Annual Reweightings and Rebalancings of the Reference Index

The Reference Index is reweighted and rebalanced each year in January on a price-percentage basis. The annual weightings for the Reference Index are determined each year by UBS under the supervision of the Supervisory Committee, after approval by the Supervisory Committee and implemented the following January. The composition of the Reference Index for 2013 was approved by the Supervisory Committee and announced in October 2012.

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2013 Designated Contracts and Target Weightings

The 20 Reference Index commodities selected for 2013 are as follows: aluminum, crude oil (Brent crude oil and WTI crude oil), coffee, copper, corn, cotton, gold, heating oil, lean hogs, live cattle, natural gas, nickel, silver, soybeans, soybean oil, soy meal, sugar, unleaded gasoline, wheat (wheat and KCBT wheat) and zinc. The designated contracts for those commodities, and their target weights, are as follows:

Calculation and Publication of the Reference Index

The Reference Index is calculated by S&P Dow Jones Indices, in conjunction with UBS, by applying the impact of the changes to the prices of index components (based on their relative weightings).

The first step in calculating the Reference Index is to calculate the applicable “commodity index multipliers” or “ CIMs ”. Following application of the diversification rules discussed in the section entitled “—Composition of the Reference Index—Determination of Composition and Weightings of the Reference Index” above, CIPs are incorporated into the Reference Index by calculating the new unit weights for each index component. On a date near the beginning of each new calendar year, the CIPs, along with the settlement prices on that date for designated contracts included in the Reference Index, are used to determine a CIM for each index component. This CIM is used to achieve the percentage weightings of the index components, in U.S. dollar terms, indicated by their respective CIPs. After the CIMs are calculated, they remain fixed throughout the year. As a result, the observed price percentage of each index component will float throughout the year, until the CIMs are reset the following year based on new CIPs.

Once the CIMs are determined, the calculation of the value of the Reference Index is a mathematical process that reflects the performance of each index component.

At present, S&P Dow Jones Indices disseminates the Reference Index value approximately every 15 seconds (assuming the Reference Index value has changed within such 15-second interval) from 8:00 a.m. to 3:30 p.m., New York City time, and publishes a daily Reference Index value at approximately 5:00 p.m., New York City time, on each DJ-UBS Business Day on http://www.djindexes.com, on Reuters page “.DJUBS” and on Bloomberg under the ticker symbol “DJUBS”.

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Reference Index Calculation Disruption Events

From time to time, disruptions can occur in trading futures contracts on various commodity exchanges. The daily calculation of the Reference Index may be adjusted in the event that the Reference Index Sponsor determines that any of the following index calculation disruption events exists:

Additional information on the Reference Index is available on the following website: http://www.djindexes.com.

The Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index ^TM

The following is a description of the Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index ^TM including, without limitation, its composition, method of calculation and changes in its components. The information in this description reflects the policies of, and is subject to change by, Barclays Bank PLC, the Index Sponsor. You, as an investor in the Notes, should make your own investigation into the Index and the Index Sponsor has no obligation to consider your interests as a holder of the Notes. The Index Sponsor has no obligation to continue to publish the Index and may discontinue publication of the Index at any time in its sole discretion .

The Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index (the “ Index ”; Bloomberg ticker: “BCC3C3UP<Index>”) is a Barclays proprietary commodities index that seeks to give investors exposure to the potential returns of commodities that are represented by the Dow Jones-UBS Commodity Index –Excess Return (the “Reference Index” or the “ DJ-UBSCI ”; Bloomberg ticker: “DJUBS Index”), as modified by replacing the static schedule of futures contract expiration months employed in the Reference Index by applying the Enhancement Methodologies, as described further below. The Index seeks to give investors exposure to the performance of the same commodities that are included in the Reference Index at any given time (the “ Index Commodities ”), and seeks to generate returns that are greater than the Reference Index over time through the application of the Enhancement Methodologies.

The Index tracks a basket of exchange traded futures contracts (the “ Index Contracts ”) for the Index Commodities. However, while the Reference Index rolls its exposure monthly from the Lead Future to the Next Future for each Index Commodity in accordance with a pre-determined roll schedule during the Reference Index Roll Period, the Index may (except with respect to precious metals commodities) at any time track one of a number of future contracts with more distant expiration dates (as opposed to the Next Future), as selected through the application of the Enhancement Methodologies (each selected contract, a “ Selected Contract ”). The Enhancement Methodologies consist of the Roll Yield, Seasonal and Momentum Alpha Methodologies, each of which is described below. No Enhancement Methodology is applied to precious metals commodities, and with respect to those commodities, the Index rolls monthly from the Lead Futures to the Next Futures in accordance with the Reference Index’s pre-determined roll schedule. The Enhancement Methodologies are administered by the Index Sponsor.

Index Contracts with roll schedules determined using the Momentum Alpha and Roll Yield methodologies are derived by using a dynamic selection process as described below under “—Contract Selection using the Momentum Alpha Methodology” and “—Contract Selection using Roll Yield Methodology”. Index Contracts with roll schedules determined using the Seasonal methodology close out their position in the futures contracts scheduled to expire in December of the current calendar year in October of such calendar year and establish a new position in the futures contracts scheduled to expire in December of the immediately following calendar year, as described below under “—Contract Selection using the Seasonal Methodology”. Any precious metals Index Contracts included in the Index (currently gold and silver), however, do not use any Enhancement Methodology to determine their respective roll schedules, but instead roll monthly from the current futures contract to the roll futures contract in accordance with the pre-determined roll schedule employed by the Reference Index.

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The level of the Index is calculated using the same methodology as the Reference Index, except for adjustments to reflect the modified roll schedules which may result from using the Enhancement Methodologies for each relevant Index Commodity as described further below.

The Index is a proprietary index developed, owned and calculated by Barclays Bank PLC (the “ Index Sponsor ”), and is denominated in U.S. dollars. The Index Sponsor calculates the level of the Index at the close of business, New York time, on each Index Business Day with respect to the prior Index Business Day and publishes it on http://ecommerce.barclays.com/indices (or any successor thereto) shortly thereafter. Information contained on this web site is not incorporated by reference herein and should not be considered a part hereof. The level of the Index is also reported on Bloomberg under the ticker “BCC3C3UP<Index>” or any successor thereto.

An “Index Business Day” is a day on which the Reference Index is calculated and published by S&P Dow Jones Indices and UBS, as determined by the Index Sponsor. Any deviation from such Index Business Day schedule will be announced by the Index Sponsor.

Contract Selection Through the Application of the Enhancement Methodologies

The relevant Enhancement Methodology to be applied to each commodity that is currently included in the Reference Index (other than commodities in the precious metals group, for which no Enhancement Methodology applies) are described in Table 2 below:

Table 2: Enhancement Methodologies by Index Contract

New Designated Contracts

As discussed further herein, the underlying physical commodities represented by the Index will be the same as those represented by the Reference Index, and the Index Contracts underlying the Index will correspond to the Designated Contracts for each physical commodity underlying the Reference Index, except that the Index Contracts may be one of a number of futures contracts with more

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distant expiration dates when compared to the Designated Contracts comprising the Reference Index. Other than with respect to precious metals commodities, the Index Contracts underlying the Index will be determined by reference to an Enhanced Methodology described below.

If a new physical commodity, and therefore a new Designated Contract, is included in the Reference Index by S&P Dow Jones Indices or if S&P Dow Jones Indices replaces the Designated Contract underlying the Reference Index, the Enhancement Methodology applied to the corresponding new Index Contract will be determined as follows:

Contract Selection Using Roll Yield Methodology

On the fourth Roll Yield Business Day of each month (the “ Roll Yield Observation Date ”), and for each futures contract that forms part of the Reference Index or that will form part of the Reference Index following the Reference Index Roll Period, and consequently that will constitute an Index Contract following the application of the Roll Yield Methodology, a rules-based selection process is used to determine the Selected Contract for inclusion in the Index. Specifically, the Selected Contract for each relevant Index Contract will be the futures contract with the highest Implied Roll Yield as determined using the following steps. “ Roll Yield Business Day ” means a day determined in accordance with the NYSE Euronext Holiday & Hours schedule, as published on the NYSE Euronext website or any successor thereto; any deviation from such schedule will be announced by the Index Sponsor.

Step 1: Calculate the Implied Roll Yield for each Relevant Commodity

The “ Implied Roll Yield ” for a commodity is determined by comparing the difference between the closing price of each Eligible Contract (as defined below) on each Roll Yield Observation Date and the closing price of the futures contract with the delivery month immediately prior to the expiration of each Eligible Contract (the “ Preceding Contract ”). This price differential is then adjusted to account for varying number of calendar days between the Roll Yield Observation Date and the expiration dates of the two contracts referred to above.

Each futures contract for the relevant commodity due to expire within 273 calendar days from and excluding the Roll Yield Observation Date, and part of Table 3(a) is considered an “ Eligible Contract .”

Table 3(a): Potential Eligible Contracts

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Table 3(b) below lists the delivery months associated with each letter in Table 3(a) above. For example, in Table 3(a), the eligible delivery months for the Selected Contract for Copper will be any of the following: the futures contract that expires in March, May, July, September or December based on the delivery months associated with the letters H, K, N, U or Z in Table 3(a).

Table 3(b): Contract Delivery Month Letters

Step 2: Determine the Selected Contract

The Selected Contract will be the Eligible Contract with the highest Implied Roll Yield. If more than one Eligible Contract has the same highest Implied Roll Yield, the futures contract with the earliest maturity is selected.

Historical Selection of Selected Contracts using the Roll Yield Methodology

Table 4 below shows the monthly Selected Contracts selected using the Roll Yield Methodology since April 2012. The Selected Contract is the futures contract that expires in the month specified in this table.

The Index was launched on May 11, 2010. As such, historical data relating to the performance of the Index is limited. Past performance is not indicative of future performance.

Table 4: Contract Selection using the Roll Yield Enhancement Methodology from April 2012 to May 2013

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Contract Selection Using Seasonal Methodology

For each futures contract that forms part of the Reference Index or that will form part of the Reference Index following the Reference Index Roll Period, and consequently that will constitute an Index Contract following the application of the Seasonal Methodology, the Selected Contract for purposes of the Index is either the contract that is scheduled to expire in December of the relevant current calendar year, or the contract scheduled to expire in December of the immediately following calendar year. The Index maintains its exposure to the relevant Index Commodity by closing out its position in the relevant futures contract that is scheduled to expire in December of the current calendar year during the Reference Index Roll Period of October of such calendar year and establishing a new position in the futures contract scheduled to expire in December of the immediately following calendar year.

Table 5: Roll Schedule for the Seasonal Methodology

For example, on the first Index Business Day of November, the Selected Contract for heating oil will be the futures contract with a delivery month of December of the next calendar year.

Historical Selection of Selected Contracts using the Seasonal Methodology

Table 6 below shows the monthly Selected Contracts from April 2012 selected using the Seasonal Methodology. The Selected Contract is the futures contract that expires in the month specified in this table.

The Index was launched on May 11, 2010. As such, historical data relating to the performance of the Index is limited. Past performance is not indicative of future performance.

Table 6: Contract Selection using the Seasonal Methodology from April 2012 to May 2013

Contract Selection Using Momentum Alpha Methodology

On the last Momentum Alpha Business Day of each month (the “ Momentum Alpha Observation Date ”), and for each futures contract that forms part of the Reference Index or that will form part of the Reference Index following the Reference Index Roll Period, and consequently that will constitute an Index Contract following the application of the Momentum Alpha Methodology, a rules-based selection process is used to determine the Selected Contract for inclusion in the Index. “ Momentum Alpha Business Day ” means a day determined in accordance with the NYSE Euronext Holiday & Hours schedule, as published on the NYSE Euronext website or any successor thereto; any deviation from such schedule will be announced by the Index Sponsor.

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The Selected Contract for each relevant Index Contract will be the futures contract in which the Selected Tenor Index will invest during the roll period immediately following the Momentum Alpha Observation Date. For each relevant commodity, a “ Selected Tenor Index ” is determined using the following steps:

Step 1: Calculate the Average Alpha Return for each Eligible Tenor Index

A “ Tenor Index ” for a commodity tracks the performance of holding and rolling a series of futures contracts for a commodity. Each “ Nearby Index ” tracks the performance of holding and rolling its position in the next nearby futures contract (or the contract closest to expiration that satisfies its pre-determined roll schedule). The Nearby, 1-month, 2-month and 5-month Tenor Indices for each commodity (collectively, the “ Eligible Tenor Indices ”) track the performance of holding and rolling into futures contracts that will underlie the Nearby Index for the same commodity currently held, 1 month in the future, 2 months in the future, and 5 months in the future, respectively.

The “Average Alpha Return ” for each Eligible Tenor Index is constructed to measure the performance of each Eligible Tenor Index relative to the performance of the Nearby Index for the same underlying commodity over the preceding 252 Momentum Alpha Business Days. The Average Alpha Return for each Eligible Tenor Index is equal to the arithmetic average of the Annual Alpha Returns for such Eligible Tenor Index on the preceding five Momentum Alpha Business Days up to and including the Momentum Alpha Observation Date. On any Momentum Alpha Business Day, the “ Annual Alpha Return ” for each Eligible Tenor Index represents the compounded difference between the daily return on each Eligible Tenor Index and the daily return on the Nearby Index over the preceding 252 Momentum Alpha Business Days (up to and including the current Momentum Alpha Business Day).

Step 2: Identify the Candidate Index

Next, the Average Alpha Returns as of the Momentum Alpha Observation Date for each Eligible Tenor Index for a particular commodity are compared, and the Eligible Tenor Index with the highest Average Alpha Return is deemed to be the “ Candidate Index ”. If two or more Eligible Tenor Indices have the same highest Average Alpha Return, the Eligible Tenor Index with the shortest tenor (i.e., the Eligible Tenor Index that tracks the shortest tenor futures contracts) will be deemed to be the Candidate Index.

Step 3: Compute the Incumbency Ratio of the Candidate Index and Determine the Selected Tenor Index

The “ Incumbency Ratio ” of a Candidate Index on a Momentum Alpha Observation Date means the percentage difference between the Average Alpha Return of the Candidate Index and the Average Alpha Return of the Selected Tenor Index chosen on the immediately preceding Momentum Alpha Observation Date (the “ Incumbent Index ”), relative to the difference between the highest and lowest Average Alpha Returns for all Eligible Tenor Indices for such commodity.

If the Incumbency Ratio is:

In the roll period immediately following each Momentum Alpha Observation Date, the Selected Contract into which each Momentum Alpha Index will roll will be the futures contract in which the Selected Tenor Index will invest during the next roll period.

Historical Selection of Selected Tenor Indices Using the Momentum Alpha Methodology

Table 7 below shows the monthly Selected Tenor Indices selected using the Momentum Alpha Methodology since April 2012. A value of “0” indicates the Nearby Tenor Index and other numbers indicate the “n”-months Tenor Index.

The Index was launched on May 11, 2010. As such, historical data relating to the performance of the Index is limited. Past performance is not indicative of future performance.

Monthly Rebalancing of the Index Commodities in the Index

The Index references futures contracts that may have different delivery months than the futures contracts underlying the Reference Index, and therefore, the relative weighting of the commodities in the Index will not match exactly the relative weights of the commodities in the Reference Index on any given day. In order to reduce potential percentage weighting differences between the Index and the Reference Index and to minimize the tracking error to the Reference Index, the Index rebalances the relative weights of the Index Commodities over each monthly Roll Period to target the then prevailing weights of the Index Commodities in the Reference Index (the “ Monthly Rebalancing ”).

On the Index Business Day immediately preceding the commencement of each Roll Period, the Index Sponsor determines the target weight for the Index Commodities based on an estimate of the expected weights of the Index Commodities in the Reference Index at the end of such Roll Period. Also on such Index Business Day, the same process used to determine the annual CIMs for the Reference Index on the CIM Determination Date each January is used to determine the CIMs for the Index. However, as the futures contracts underlying the Index may not correspond to the futures contracts underlying the Reference Index, the closing prices used as part of such calculation may differ. The CIMs calculated as part of the monthly rebalancing process, using the prices of the futures contracts underlying the Index, are therefore referred to as the “ Adjusted CIMs ”. The relative weights of the Index Commodities are then rebalanced during each Roll Period, using these Adjusted CIMs, in the same manner as the process used to re-weight the Reference Index each January.

As discussed above, the target weights for the Index Commodities underlying the Index are based on an estimate of the expected weights of the Index Commodities underlying the Reference Index immediately following the Roll Period. As a result, the relative weights of the Index Commodities underlying the Index immediately following the Roll Period may not correspond exactly to the relative weights of the Index Commodities underlying the Reference Index. The Index was launched on May 11, 2010.

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The Index Return Calculations

The Reference Index is calculated by S&P Dow Jones Indices, in conjunction with UBS, by applying the impact of the changes to the futures prices of commodities included in the Reference Index (based on their relative weightings). Once the CIMs are determined as discussed above, the calculation of the value of the Reference Index is a mathematical process whereby the products of the CIM and the contract price in U.S. dollars for each Reference Index commodity are summed. Two such summations are made in parallel: first, using contracts with nearby settlement dates ( i.e. , the Lead Future) for each Reference Index commodity; and second, using contracts with deferred settlement dates ( i.e. , the Next Future) for each Reference Index commodity. During the first five Reference Index Business Days of each calendar month, the value of the Reference Index is adjusted daily by the percentage change of the sum calculated using nearby settlement dates. During the subsequent five-day rollover period ( i.e. , beginning with and including the sixth Index Business Day through and including the tenth Index Business Day of each month), the value of the Reference Index is adjusted daily by reference to the sums calculated for both nearby settlement dates and deferred settlement dates, according to pre-determined roll percentages that gradually favor the deferred settlement date sums. Following the five-day rollover period, daily adjustments for the remainder of the calendar month are made using the sum calculated using deferred settlement dates. See “The Reference Index—Calculation of the Reference Index” above.

The Reference Index is an excess return index, reflecting the total returns available as a result of changes in the prices of the underlying futures contracts, any roll yield (which may be positive or negative) generated from rolling from one futures contract to another, and excludes the interest returns on a hypothetical fully collateralized investment in Treasury bills.

The level of the Index is deemed to have been 100.0000 as of December 30, 1999, which we refer to as the “ Index commencement date ”. For each Index Business Day thereafter, the level of the Index will be calculated by the Index Sponsor in accordance with the Reference Index methodology, except that, for purposes of calculation, in respect of each commodity that forms part of, or that, after the next Reference Index Roll Period will form part of, the Reference Index:

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Historical Performance of the Index Compared to the Reference Index

The following graph sets forth the historical performance of the Index compared with the performance of the Reference Index based on the daily closing levels from May 11, 2010 through May 16, 2013. Solely for purposes of illustration, the level of the Reference Index was rebased to 100.0000 as of May 11, 2010. On May 16, 2013, the closing level of the Index was 326.9471.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

The Index was launched on May 11, 2010. As such, historical data relating to the performance of the Index is limited. Past performance is not indicative of future performance.

Index Disruption Events

If, on any Index Business Day, an “Index Disruption Event” (as defined below) occurs that, in the sole discretion of the Index Sponsor, affects the Index, the Index Sponsor may:

Any of the following will be an “ Index Disruption Event ”:

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The following event will not be an Index Disruption Event:

Reference Index Change Events

If a “Reference Index Change Event” occurs, the Index Sponsor shall modify the Index in order to reflect the changes to the Reference Index, except in circumstances where, as a result of such changes:

in each case as determined in the sole discretion of the Index Sponsor, in which case the Index Sponsor may, in its sole discretion:

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Notwithstanding the above, if a new Designated Contract is added to the Reference Index, the relevant Index Contract shall be determined by the Index Sponsor in accordance with the Index methodology described above.

A “ Reference Index Change Event ” means any change to the Reference Index made by the Reference Index Sponsors as determined by the Reference Index Sponsor in its sole discretion.

Index Force Majeure Events

If, on any Index Business Day, an “Index Force Majeure Event” occurs that, in the sole discretion of the Index Sponsor, affects the Index, the Index Sponsor may:

An “ Index Force Majeure Event ” means any systems failure, natural or man-made disaster, act of God, armed conflict, act of terrorism, riot or labor disruption or any similar intervening circumstance or event that is beyond the reasonable control of the Index Sponsor and that the Index Sponsor determines, in its sole discretion, affects that Index and/or any Index Contract.

Index Sponsor Determinations

All determinations with respect to the Index made by the Index Sponsor will be made in its sole discretion and in a commercially reasonable manner by reference to such factors as the Index Sponsor deems appropriate and will be final, conclusive and binding in the absence of manifest error. The Index Sponsor reserves the right to make adjustments to correct errors contained in previously published information relating to the Index, including but not limited to the Index level, and to publish the corrected information, but is under no obligation to do so and shall have no liability in respect of any errors or omissions contained in any subsequent publication. Notwithstanding the above, the Index Sponsor will not adjust or correct any previously published Index level other than in cases of manifest error.

Change in Index Methodology; Adjustments; Termination of the Index

While the Index Sponsor currently employs the methodology described above to calculate the Index, from time to time it may be necessary to modify the methodology (including the information or inputs on which the Index is based). The Index Sponsor reserves the right, in its sole discretion, to make such modifications to the methodology in a commercially reasonable manner. Where the Index Sponsor elects to make a modification or change in the methodology, the Index Sponsor will make reasonable efforts to ensure that such modifications will result in a methodology that is consistent with the objectives of the methodology described above. The Index Sponsor may, at any time and without notice, change the name of the Index, the place and time of the publication of the Index level and the frequency of publication of the Index level. The Index Sponsor expects to publish any such changes or modifications on http://ecommerce.barclays.com/indices (or any successor thereto). Information contained on this web site is not incorporated by reference herein and should not be considered a part hereof. The Index Sponsor also may, in its sole discretion, at any time and without notice, terminate the calculation and/or publication of the Index level.

Change in Law Redemption Event

Upon the occurrence of a Change in Law that, in our sole determination, would, or is reasonably likely to: (i) have an adverse effect upon, or otherwise require us or our affiliates to unwind or terminate, in whole or in part, any of the positions, transactions or contractual arrangements pursuant to which we or our affiliates have hedged, individually or on a portfolio basis, our obligations under the Notes; or (ii) restrict our ability, or make it reasonably impracticable, to maintain existing hedging positions, enter into future transactions or contractual arrangements, or to establish or modify positions, to hedge, individually or on a portfolio basis, our obligations under the Notes, we may, but are not obligated to, redeem the Notes in whole (but not in part) in accordance with the provisions set forth herein.

For purposes of the above, “ Change in Law ” means (i) the adoption of, or change in, any applicable law, rule, regulation, or order by any court, tribunal, regulatory authority or exchange, or (ii) the promulgation or withdrawal of, or any change in, the interpretation by

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any court, tribunal, regulatory authority or exchange, or the issuance, revocation or modification of any applicable law, rule, regulation, order, exemption, position limit or “no-action” position of any regulatory authority or exchange, with competent jurisdiction of any applicable law, rule or regulation, interpretation, order or position occurring, in each case as set forth in (i) and (ii) above, after the initial valuation date. For the avoidance of doubt, if a Change in Law becomes effective only after a specified transition period, the occurrence of a Change in Law is not the date on which such Change in Law becomes effective but rather the date on which the Change in Law was officially adopted or enacted by the relevant body.

Hedging Disruption Redemption Event

We may, but are not obligated to, redeem the Notes in whole (but not in part) at our sole discretion upon the occurrence of a Hedging Disruption Event. A “ Hedging Disruption Event ” means that we determine that we or our affiliates are unable or will become unable, after using commercially reasonable efforts, to either: (a) acquire, establish, re-establish, substitute, maintain, unwind or dispose of any (i) positions or contracts in securities, options, futures, derivatives or foreign exchange, (ii) loans of stock or other securities or (iii) (without limiting the generality of the foregoing) any other instruments or arrangements, in each case of (i) through (iii), the purpose of which is to hedge, individually or on a portfolio basis, a portion or all of our obligations under the Notes (each, a “ Hedge Position ” and collectively, the “ Hedge Positions ”), including, without limitation, where such Hedge Positions would contribute to the breach of applicable position limits set by any regulatory or self-regulatory body, including any exchange or trading facility, whether on a standalone basis or as a result of any adjustment(s) to the commodity exposure incurred by us under the Notes; or (b) freely realize, recover, receive, repatriate, remit or transfer the proceeds of the Hedge Positions or the Notes.

Redemption Notice

If we elect to redeem the Notes following a Change in Law Redemption Event or a Hedging Disruption Event, we will deliver written notice as promptly as possible of such election to redeem to the Depository Trust Company (“ DTC ”) and to The Bank of New York Mellon, the trustee under the Senior Debt Indenture dated September 16, 2004 (the “ Trustee ”) (the date of such delivery being the “ Notice Date ”). In this scenario, the final valuation date will be deemed to be the Notice Date, and the Notes will be redeemed on the third business day following such deemed final valuation date, subject to market disruption events, at an amount equal to the redemption amount.

LICENSE AGREEMENT

Disclaimer

The Dow Jones-UBS Commodity Indexes ^SM are a joint product of DJI Opco, LLC (“DJI Opco”), a subsidiary of S&P Dow Jones Indices LLC, and UBS Securities LLC (“UBS Securities”), and have been licensed for use. Dow Jones ^® and DJ ^® are trademarks of Dow Jones Trademark Holdings, LLC (“Dow Jones”); “UBS” is a registered trademark of UBS AG (“UBS AG”); S&P ^® is a registered trademark of Standard & Poor’s Financial Services LLC; and these trademarks have been licensed for use by DJI Opco and sublicensed for certain purposes by Barclays Bank PLC. The Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index, which references the Dow Jones-UBS Commodity Index, is not sponsored or endorsed by Dow Jones, UBS AG, UBS Securities, CME Indexes or any of their subsidiaries or affiliates, but are published with their consent.

The Notes are not sponsored, endorsed, sold or promoted by Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their subsidiaries or affiliates. None of Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their subsidiaries or affiliates makes any representation or warranty, express or implied, to the owners of or counterparts to the Notes or any member of the public regarding the advisability of investing in securities or commodities generally or in the Notes particularly. The only relationship of Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their subsidiaries or affiliates to the Licensee is the licensing of certain trademarks, trade names and service marks and of the Dow Jones-UBS Commodity Index, which is determined, composed and calculated by DJI Opco in conjunction with UBS Securities without regard to Barclays Bank PLC or the Notes. UBS Securities and DJI Opco have no obligation to take the needs of Barclays Bank PLC or the owners of the Notes into consideration in determining, composing or calculating DJ-UBSCI. None of Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their respective subsidiaries or affiliates is responsible for or has participated in the determination of the timing of, prices at, or quantities of the Notes to be issued or in the determination or calculation of the equation by which the Notes are to be converted into cash, surrendered or redeemed, as the case may be. None of Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their subsidiaries or affiliates shall have any obligation or liability, including, without limitation, to Notes customers, in connection with the administration, marketing or trading of the Notes. Notwithstanding the foregoing, UBS AG, UBS Securities, CME Group Inc., an affiliate of S&P Dow Jones Indices LLC, and their respective subsidiaries and affiliates may independently issue and/or sponsor financial products unrelated to the Notes currently being issued by Licensee, but which may be similar to and competitive with the Notes. In addition, UBS AG, UBS Securities, CME Group Inc. and their subsidiaries and affiliates actively trade commodities, commodity indexes and commodity futures (including the Dow Jones-UBS Commodity Index and the Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index), as well as swaps, options and derivatives which are linked to the performance of such commodities, commodity indexes and commodity futures.

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It is possible that this trading activity will affect the value of the Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index and the Notes. Purchasers of the Notes should not conclude that the inclusion of a futures contract in the Barclays Multi-Strategy DJ-UBSCI with Seasonal Energy Excess Return Index is any form of investment recommendation of the futures contract or the underlying exchange-traded physical commodity by Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their subsidiaries or affiliates. The information in this preliminary pricing supplement regarding the Dow Jones-UBS Commodity Index components has been derived solely from publicly available documents. None of Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their subsidiaries or affiliates has made any due diligence inquiries with respect to the Dow Jones-UBS Commodity Index components in connection with the Notes. None of Dow Jones, UBS AG, UBS Securities, DJI Opco or any of their subsidiaries or affiliates makes any representation that these publicly available documents or any other publicly available information regarding the Dow Jones-UBS Commodity Index components, including without limitation a description of factors that affect the prices of such components, are accurate or complete. NONE OF DOW JONES, UBS AG, UBS SECURITIES, DJI OPCO OR ANY OF THEIR SUBSIDIARIES OR AFFILIATES GUARANTEES THE ACCURACY AND/OR THE COMPLETENESS OF THE DOW JONES-UBS COMMODITY INDEX OR ANY DATA RELATED THERETO AND NONE OF DOW JONES, UBS AG, UBS SECURITIES, DJI OPCO OR ANY OF THEIR SUBSIDIARIES OR AFFILIATES SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. NONE OF DOW JONES, UBS AG, UBS SECURITIES, DJI OPCO OR ANY OF THEIR SUBSIDIARIES OR AFFILIATES MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY BARCLAYS BANK PLC, OWNERS OF THE NOTES OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE DOW JONES-UBS COMMODITY INDEX EXCESS RETURN OR ANY DATA RELATED THERETO. NONE OF DOW JONES, UBS AG, UBS SECURITIES, DJI OPCO OR ANY OF THEIR SUBSIDIARIES OR AFFILIATES MAKES ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE DOW JONES-UBS COMMODITY INDEX OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL DOW JONES, UBS AG, UBS SECURITIES, DJI OPCO OR ANY OF THEIR SUBSIDIARIES OR AFFILIATES HAVE ANY LIABILITY FOR ANY LOST PROFITS OR INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES OR LOSSES, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS AMONG UBS SECURITIES, DJI OPCO AND BARCLAYS BANK PLC, OTHER THAN UBS AG AND THE LICENSORS OF DJI OPCO.