Barclays announced today that it will implement a split for the
following series of iPath® ETNs (together, the “ETNs”):
ETN Name
Ticker
Exchange
CUSIP
Split Ratio
iPath® Shiller CAPETM ETN
CAPE
NYSE Arca
06742A669
10:1
iPath® Series B Carbon ETN
GRN
NYSE Arca
06747C322
5:1
iPath® Series B Bloomberg
Agriculture Subindex Total ReturnSM ETN
JJA
NYSE Arca
06746P589
3:1
iPath® Series B Bloomberg Copper
Subindex Total ReturnSM ETN
JJC
NYSE Arca
06746P555
3:1
iPath® Series B Bloomberg Nickel
Subindex Total ReturnSM ETN
JJN
NYSE Arca
06746P480
3:1
The split for each series of ETNs will be effective at the open
of trading on Friday, June 4, 2021 (the “Ex-Date”). Here are the
other relevant dates:
Record Date
Wednesday, 6/2/2021
Pay Date
Thursday, 6/3/2021
Ex-Date
Friday, 6/4/2021
Barclays Bank PLC has the right (but not the obligation) to
initiate such a split of each series of ETNs in its sole
discretion, as described in the relevant pricing supplement
relating to each series of ETNs.
The closing indicative value of each series of ETNs on June 3,
2021 (the “Pay Date”) will be divided by the split ratio indicated
in the table above for each series of ETNs to determine the
split‑adjusted closing indicative value of the ETNs. The number of
ETNs of each series outstanding at the close of trading on the Pay
Date correspondingly will be multiplied by the relevant split ratio
to determine the adjusted number of ETNs of each series outstanding
as of the Ex-Date. The split will be effective on the Ex-Date at
the open of trading on June 4, 2021, and the ETNs will begin
trading on NYSE Arca on a split-adjusted basis on such date. The
split-adjusted ETNs will retain the same CUSIP, ISIN and ticker
symbol.
For more information regarding the split process, including how
the split-adjusted value is determined, see the relevant pricing
supplement relating to each series of ETNs under the heading
“Valuation of the ETNs—Split or Reverse Split of the ETNs.” The
pricing supplements relating to the ETNs can be found on EDGAR, the
SEC website, at: www.sec.gov. The prospectuses are also available
on the product website at the following links: iPath® Shiller
CAPETM ETN: www.iPathETN.com/capeprospectus iPath® Series B Carbon
ETN: www.iPathETN.com/grnprospectus iPath ® Series B Bloomberg
Agriculture Subindex Total Return SM ETN:
www.iPathETN.com/jjaprospectus iPath® Series B Bloomberg Copper
Subindex Total ReturnSM ETN: www.iPathETN.com/jjcprospectus iPath®
Series B Bloomberg Nickel Subindex Total ReturnSM ETN:
www.iPathETN.com/jjnprospectus
Barclays Bank PLC is the issuer of iPath® ETNs and Barclays
Capital Inc. is the issuer’s agent in the distribution. Please
contact Barclays for further questions:
Financial advisors: Directly contact Barclays at
etndesk@barclays.com or
1-212-528-7990 to obtain further information.
Individual investors: Instruct your
broker/advisor/custodian to email us at etndesk@barclays.com or
call us at: 1-212-528-7990. You may call together with your
broker/advisor/custodian or have them speak to us on your
behalf.
About Barclays
Barclays is a transatlantic consumer and wholesale bank offering
products and services across personal, corporate and investment
banking, credit cards and wealth management, with a strong presence
in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking,
Barclays operates in over 40 countries and employs approximately
83,500 people. Barclays moves, lends, invests and protects money
for customers and clients worldwide.
For further information about Barclays, please visit our website
www.barclays.com
Selected Risk Considerations
An investment in the iPath ETNs described herein involves risks.
Selected risks are summarized here, but we urge you to read the
more detailed explanation of risks described under “Risk Factors”
in the applicable prospectus supplement and pricing supplement.
You May Lose Some or All of Your Principal: The ETNs are
exposed to any decrease in the level of the underlying index
between the inception date and the applicable valuation date.
Additionally, if the level of the underlying index is insufficient
to offset the negative effect of the investor fee and other
applicable costs, you will lose some or all of your investment at
maturity or upon redemption, even if the value of such index level
has increased or decreased, as the case may be. Because the ETNs
are subject to an investor fee and other applicable costs, the
return on the ETNs will always be lower than the total return on a
direct investment in the index components. The ETNs are riskier
than ordinary unsecured debt securities and have no principal
protection.
Credit of Barclays Bank PLC: The ETNs are unsecured debt
obligations of the issuer, Barclays Bank PLC, and are not, either
directly or indirectly, an obligation of or guaranteed by any third
party. Any payment to be made on the ETNs, including any payment at
maturity or upon redemption, depends on the ability of Barclays
Bank PLC to satisfy its obligations as they come due. As a result,
the actual and perceived creditworthiness of Barclays Bank PLC will
affect the market value, if any, of the ETNs prior to maturity or
redemption. In addition, in the event Barclays Bank PLC were to
default on its obligations, you may not receive any amounts owed to
you under the terms of the ETNs.
Issuer Redemption: If specified in the applicable
prospectus, Barclays Bank PLC will have the right to redeem or call
a series of ETNs (in whole but not in part) at its sole discretion
and without your consent on any trading day on or after the
inception date until and including maturity.
Market and Volatility Risk: The prices of equities or
physical commodities, including the commodities underlying the
index components, can fluctuate widely due to supply and demand
disruptions in major producing or consuming regions. Additionally,
the market value of the ETNs may be influenced by many
unpredictable factors including changes in supply and demand
relationships, governmental policies and economic events. Factors
that may influence the market value of the ETNs also include
prevailing market prices of the U.S. stock markets, the index
components included in the underlying index, and prevailing market
prices of options on such index or any other financial instruments
related to such index; and supply and demand for the ETNs,
including economic, financial, political, regulatory, geographical
or judicial events that affect the level of such index or other
financial instruments related to such index.
Concentration Risk: Because certain of the ETNs
are linked to an index composed of futures contracts on a single
commodity or in only one commodity sector, the ETNs are less
diversified than other funds. The ETNs can therefore experience
greater volatility than other funds or investments.
A Trading Market for the ETNs May Not Develop: Although
the ETNs are listed on a U.S. national securities exchange, a
trading market for the ETNs may not develop and the liquidity of
the ETNs may be limited, as we are not required to maintain any
listing of the ETNs.
No Interest Payments from the ETNs: You may not receive
any interest payments on the ETNs.
Restrictions on the Minimum Number of ETNs and Date
Restrictions for Redemptions: You must redeem a specified
number of the same series at one time in order to exercise your
right to redeem your ETNs on any redemption date. You may only
redeem your ETNs on a redemption date if we receive a notice of
redemption from you by certain dates and times as set forth in the
product prospectus.
Uncertain Tax Treatment: Significant aspects of the tax
treatment of the ETNs are uncertain. You should consult your own
tax advisor about your own tax situation.
The ETNs may be sold throughout the day on the exchange through
any brokerage account. There are restrictions on the minimum number
of ETNs you may redeem directly with the issuer as specified in the
applicable prospectus. Commissions may apply and there are tax
consequences in the event of sale, redemption or maturity of ETNs.
Sales in the secondary market may result in significant
losses.
© 2021 Barclays Bank PLC. All rights reserved. iPath, iPath ETNs
and the iPath logo are registered trademarks of Barclays Bank PLC.
All other trademarks, servicemarks or registered trademarks are the
property, and used with the permission, of their respective
owners.
NOT FDIC INSURED · NO BANK
GUARANTEE · MAY LOSE VALUE
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version on businesswire.com: https://www.businesswire.com/news/home/20210519005879/en/
Danielle Popper +1 212 526 5963 Danielle.Popper@barclays.com
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