Barclays Stock Price, News & Analysis

Barclays Bank PLC has announced an extension of its cash tender offer for all iPath S&P GSCI Crude Oil Total Return Index ETNs. Originally set to expire on November 30, 2022, the new expiration date is January 3, 2023. Notably, the purchase price premium has been increased from 2% to 3% based on the closing indicative note value on January 3. As of the previous deadline, 98,990 Notes were tendered, representing 27.27% of outstanding Notes. Investors are warned that the purchase price may decline if the underlying index value drops.

Barclays Bank PLC has set the purchase price for its cash tender offer to acquire its iPath® S&P GSCI® Crude Oil Total Return Index ETNs due August 14, 2036, at $213.85 per Note. This price includes a 2% premium based on the indicative closing value of $209.65 as of November 30, 2022. The tender offer expires on November 30, 2022, unless extended. Noteholders must tender their Notes to receive the purchase price, and Barclays will announce its decisions regarding the tenders by December 1, 2022.

Barclays Bank PLC has initiated a cash tender offer to buy back its iPath S&P GSCI Crude Oil Total Return Index ETNs, maturing August 14, 2036. The offer began on October 28, 2022, and expires on November 30, 2022. The purchase price will be 102% of the Closing Indicative Note Value on the expiration date, indicating a 2% premium. Noteholders who validly tender their ETNs will consent to an amendment allowing Barclays to redeem all outstanding notes. The notes not tendered will remain active and subject to amended terms.

Barclays has announced key leadership appointments in its Investment Banking division as part of its growth strategy. Tim Main succeeds Reid Marsh as Head of Investment Banking EMEA, while Marsh becomes Global Chairman of Investment Banking. Arif Vohra takes over from Main as Global Co-Head of the Financial Institutions Group. These changes aim to enhance regional leadership, client coverage, and service delivery, supporting Barclays’ goal for sustainable growth in its Corporate and Investment Bank. Barclays continues to focus on expanding its EMEA franchise for improved market share.

The SEC has concluded its investigation of Barclays and its subsidiary, Barclays Bank PLC, regarding the over-issuance of securities. As part of the settlement, Barclays will pay a $200 million penalty. The financial impact from this over-issuance is expected to remain consistent with previous results disclosed for the first half of 2022. An external review pointed out failures in tracking issuances and raised concerns regarding accountability at senior levels, although it noted that a general lack of controls was not the issue.

Barclays has appointed Marie Freier as Global Co-Head of Sustainable and Impact Investment Banking (SIB), effective immediately. Freier transitions from her position in Global Research and will work alongside Brian Reilly. This strategic appointment aims to enhance Barclays' ability to support clients in the transition to a low-carbon economy, leveraging Freier's extensive ESG research experience. She will report to Travis Barnes, Global Head of Financial Sponsors and Sustainable and Impact Investment Banking, and will significantly bolster senior management resources in EMEA.

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.

Barclays has announced the expiration of its BBPLC rescission offer, which began on 1 August 2022 and concluded at 5:00 p.m. EDT on 12 September 2022. Out of approximately $17.7 billion in securities, claims totaling $7.7 billion were validly submitted by investors. Settlement for these claims will occur on 15 September 2022. Barclays is currently assessing the financial impact and will provide updates as necessary.

Barclays Bank PLC (BCS, WIL) announced an updated indicative rescission offer for structured notes ahead of the 12 September 2022 expiration date. The release includes calculations for potential rescission offer proceeds for initial investors, as well as updated market values and trading prices of the affected notes. Investors are encouraged to review the rescission offer prospectus for details on eligibility and acceptance procedures. The final proceeds will be published after the expiration date, and results will vary based on assumptions made in calculations.