Barclays Bank PLC (“Barclays Bank”) announced today that
it plans to resume further issuances and sales by Barclays Bank and
its affiliates of each series of iPath® ETNs (the “ETNs”)
listed in the table below, effective as of the open of trading on
Monday, September 26, 2022. This action follows the announcements
by Barclays Bank on March 14, 2022, April 22, 2022 and April 28,
2022 to suspend sales of the ETNs. As Barclays Bank indicated in
its announcement on August 1, 2022, further issuances and sales of
the ETNs are being resumed now that the rescission offer has been
completed and settlement of the rescission offer with respect to
the ETNs has occurred. Further issuances and sales of the 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 the ETNs.
Name of ETN
iPath® Series B S&P 500® VIX
Short-Term FuturesTM ETN
iPath® Pure Beta Crude Oil ETN
Pacer® iPath® Gold Trendpilot ETN
iPath® Series B Bloomberg Natural Gas
Subindex Total ReturnSM ETN
iPath® Series B Carbon ETN
iPath® Series B Bloomberg Energy Subindex
Total ReturnSM ETN
The market value of the ETNs may be influenced by, among other
things, the levels of supply and demand for such ETNs. Recently, a
premium or discount, as the case may be, has developed in the
trading price of certain series of ETNs in relation to the intraday
indicative value of such series. It is possible that this reopening
of sales and issuances, or the announcement thereof, may influence
the trading price of the 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 ETNs, it could lead
to significant losses in the event an investor sells ETNs at a time
when such premium is no longer present in the marketplace or if
Barclays Bank redeems the ETNs at its discretion.
The pricing supplement and prospectus relating to each series of
ETNs can be found on EDGAR, the SEC 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
email@example.com or 1-212-528-7990 to obtain further
- Individual investors: Instruct your broker/advisor/custodian to
email us at firstname.lastname@example.org 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.
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 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 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
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
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
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
NOT FDIC INSURED · NO BANK
GUARANTEE · MAY LOSE VALUE
version on businesswire.com: https://www.businesswire.com/news/home/20220919005454/en/
Ann Thielke +1 212 526 1472 Ann.Thielke@barclays.com
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