Barclays Resumes Further Issuances and Sales of Certain iPath® ETNs
Barclays Bank PLC announced it will resume issuance and sales of its iPath® ETNs starting September 26, 2022, following earlier suspensions. This decision comes after the completion of a rescission offer, allowing the bank to proceed under its SEC shelf registration effective May 23, 2022. The action may lead to fluctuations in the ETNs' trading values. Investors should be aware of the inherent risks in ETNs, including potential loss of principal and lack of market development.
- Resumption of ETN issuances and sales may enhance liquidity.
- Completion of rescission offer allows for continuation of ETN operations.
- Investor exposure to potential losses due to inherent risks in ETNs.
- Market fluctuations could adversely affect trading prices of ETNs.
|
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 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
The pricing supplement and prospectus relating to each series of ETNs can be found on EDGAR, the
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.
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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 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
Issuer Redemption: If specified in the applicable prospectus,
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
A
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.
© 2022
NOT FDIC INSURED · NO BANK GUARANTEE · MAY LOSE VALUE |
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+1 212 526 1472
Ann.Thielke@barclays.com
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FAQ
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