Further to its announcement on July 25, 2022, Barclays Bank PLC
(“Barclays Bank”) announced today that it is resuming
further issuances and sales by Barclays Bank and its affiliates of
each series of iPath® ETNs (the “Resumed ETNs”) listed in
the table below, effective as of the open of trading today, August
1, 2022. This action follows the announcement by Barclays Bank on
April 28, 2022 to suspend sales of such series of Resumed ETNs. Any
such issuances and sales of the Resumed ETNs will be made pursuant
to Barclays Bank’s shelf registration statement filed with the
Securities and Exchange Commission (the “SEC”) on May 23,
2022. As described below, this action may result in fluctuations in
the trading value of such Resumed ETNs.
Name of Resumed ETN
Ticker
Exchange
CUSIP
iPath® Bloomberg Commodity Index Total
ReturnSM ETN
DJP
NYSE Arca
06738C778
iPath® Shiller CAPE™ Index ETN
CAPD
NYSE Arca
06742A669
iPath® Select MLP ETN
ATMP
CBOE BZX
06742C723
iPath® Series B Bloomberg Copper Subindex
Total ReturnSM ETN
JJC
NYSE Arca
06746P555
iPath® Series B Bloomberg Coffee Subindex
Total ReturnSM ETN
JO
NYSE Arca
06746P563
iPath® Series B Bloomberg Grains Subindex
Total ReturnSM ETN
JJG
NYSE Arca
06746P522
iPath® Series B S&P 500® VIX Mid-Term
FuturesTM ETNs
VXZ
CBOE BZX
06746P613
iPath® Series B Bloomberg Nickel Subindex
Total ReturnSM ETN
JJN
NYSE Arca
06746P480
iPath® Pure Beta Broad Commodity ETN
BCM
NYSE Arca
06740P114
iPath® S&P GSCI® Total Return Index
ETN
GSP
NYSE Arca
06738C794
Pacer® iPath® Gold ETN
GBUG
NYSE Arca
06747D809
iPath® Series B Bloomberg Cotton Subindex
Total ReturnSM ETN
BAL
NYSE Arca
06746P548
iPath® Series B Bloomberg Tin Subindex
Total ReturnSM ETN
JJT
NYSE Arca
06746P431
iPath® Series B Bloomberg Sugar Subindex
Total ReturnSM ETN
SGG
NYSE Arca
06746P449
iPath® Series B Bloomberg Agriculture
Subindex Total ReturnSM ETN
JJA
NYSE Arca
06746P589
iPath® Series B Bloomberg Industrial
Metals Subindex Total ReturnSM ETN
JJM
NYSE Arca
06746P514
iPath® Bloomberg Cocoa Subindex Total
ReturnSM ETN
NIB
NYSE Arca
06739H313
iPath® Series B Bloomberg Aluminum
Subindex Total ReturnSM ETN
JJU
NYSE Arca
06746P571
iPath® Series B Bloomberg Livestock
Subindex Total ReturnSM ETN
COW
NYSE Arca
06746P498
iPath® Series B Bloomberg Softs Subindex
Total ReturnSM ETN
JJS
NYSE Arca
06746P456
iPath® Silver ETN
SBUG
NYSE Arca
06747D700
iPath® S&P MLP ETN
IMLP
CBOE BZX
06742A750
iPath® Series B Bloomberg Precious Metals
Subindex Total ReturnSM ETN
JJP
NYSE Arca
06746P464
iPath® Series B Bloomberg Platinum
Subindex Total ReturnSM ETN
PGM
NYSE Arca
06746P472
Barclays Women in Leadership ETN
WIL
CBOE BZX
06742W430
Barclays Return on Disability ETN
RODI
CBOE BZX
06740D830
iPath® Bloomberg Lead Subindex Total
ReturnSM ETN
LD
NYSE Arca
06739H263
The market value of the Resumed ETNs may be influenced by, among
other things, the levels of supply and demand for such Resumed
ETNs. Recently, a premium or discount, as the case may be, has
developed in the trading price of certain series of Resumed ETNs in
relation to the intraday indicative value of such series. It is
possible that this reopening of sales and issuances may influence
the trading price of the Resumed ETNs or cause the premium or
discount to decrease or to no longer be present, though it is not
possible to predict such impact. In particular, if an investor paid
a premium purchase price over the indicative value of the Resumed
ETNs, it could lead to significant losses in the event an investor
sells Resumed ETNs at a time when such premium is no longer present
in the marketplace or if Barclays Bank redeems the Resumed ETNs at
its discretion.
For each series of iPath® ETNs listed in the table below (the
“Suspended ETNs” and, together with the Resumed ETNs, the
“ETNs”), Barclays Bank has commenced today a rescission
offer to eligible purchasers in certain transactions relating to
certain issuances of the Suspended ETNs. The terms of the
rescission offer are set forth in the prospectus supplement that
was filed today with the SEC and is available on EDGAR, the SEC’s
website at
https://www.sec.gov/Archives/edgar/data/312070/000119312522207620/d386666d424b5.htm.
For each series of Suspended ETNs, Barclays Bank intends to
resume further issuances and sales when the rescission offer has
been completed and settlement of the rescission offer with respect
to the relevant series has occurred. Barclays Bank will make a
further announcement of the date on which it plans to reopen each
series of Suspended ETNs, until which date they will remain
suspended, as announced by Barclays Bank on March 14, 2022, April
22, 2022 and April 28, 2022.
Following the suspension of the Suspended ETNs, a premium or
discount has developed in the trading price of certain of these
Suspended ETNs in relation to their indicative value. The continued
suspension of sales may further influence the market value of the
Suspended ETNs and may cause further premiums or discounts to
develop. Barclays Bank encourages investors to refer to the
information in the announcements above regarding these suspensions
and the potential impacts on the market value of these Suspended
ETNs. Daily redemptions at the option of holders of the
Suspended ETNs will not be affected by this suspension.
Name of Suspended ETN
Ticker
Exchange
CUSIP
iPath® Series B S&P 500® VIX
Short-Term FuturesTM ETN
VXX
CBOE BZX
06747R477
iPath® Pure Beta Crude Oil ETN
OIL
NYSE Arca
06740P221
Pacer® iPath® Gold Trendpilot ETN
PBUG
NYSE Arca
06747T382
iPath® Series B Bloomberg Natural Gas
Subindex Total ReturnSM ETN
GAZ
NYSE Arca
06745T368
iPath® Series B Carbon ETN
GRN
NYSE Arca
06747C322
iPath® Series B Bloomberg Energy Subindex
Total ReturnSM ETN
JJE
NYSE Arca
06746P530
The pricing supplement and prospectus relating to each series of
ETNs can be found on EDGAR, the SEC’s website at www.sec.gov, as
well as on the product website at the product page for each of the
ETNs listed in the tables above at ipathetn.barclays.
An investment in the ETNs involves significant risks and may
not be suitable for all investors. The ETNs are riskier than
ordinary unsecured debt securities and do not benefit from any
principal protection. For more information on risks associated with
the ETNs, please see “Selected Risk Considerations” below and the
risk factors included in the relevant pricing supplement.
Barclays Bank is the issuer of the ETNs and Barclays Capital
Inc. is the issuer’s agent in the distribution. Please contact
Barclays Bank for further questions:
- Financial advisors: Directly contact Barclays Bank 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 to call us at: 1-212-528-7990.
You may call in together with your broker/advisor/custodian or have
them speak to us on your behalf.
About Barclays
Barclays is a British universal bank. We are diversified by
business, by different types of customers and clients, and by
geography. Our businesses include consumer banking and payments
operations around the world, as well as a full-service corporate
and investment bank. For further information about Barclays, please
visit our website www.barclays.com.
Selected Risk Considerations
An investment in the 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 change in the level of the underlying index, or the Volume
Weighted Average Price (“VWAP”) level, in the case of the iPath®
S&P MLP ETN, between the inception date and the applicable
valuation date. Additionally, if the level of the underlying index
or the VWAP level 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 or the VWAP 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 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, if 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
the 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 market value of the ETNs
may be influenced by many unpredictable factors and may fluctuate
between the date you purchase them and the maturity date or
redemption date. You may also sustain a significant loss if you
sell your ETNs in the secondary market. Factors that may influence
the market value of the ETNs include prevailing market prices of
the commodity markets, the U.S. stock markets or the U.S. Treasury
market, 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.
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: Except as specified in the pricing supplement, you
must redeem at least the minimum number of ETNs specified in the
pricing supplement 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 pricing
supplement.
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. 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.
Barclays Bank PLC has filed a registration statement (including
a base prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the base
prospectus for this offering in that registration statement and
other documents Barclays Bank PLC has filed with the SEC for more
complete information about Barclays Bank PLC and this offering. You
may get these documents for free by searching the SEC online
database (EDGAR) at www.sec.gov. Alternatively, you may obtain a
copy of the base prospectus from Barclays Bank PLC by calling
toll-free 1-888-227-2275 (extension 7-7990).
© 2022 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
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220801005433/en/
Press: Ann Thielke +1 212 526 1472 Ann.Thielke@barclays.com
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