Barclays PLC - BCS STOCK NEWS

Barclays has appointed Martin Douglass as Head of Financial Sponsors M&A, based in New York. Douglass, with nearly 15 years of investment banking experience, joins from Morgan Stanley where he was a Managing Director in the M&A team. He has executed over $300 billion in transactions throughout his career.

Douglass will report to Dan Grabos, Head of Americas M&A, and work closely with JF Astier, Global Head of Financial Sponsors Group, and Christian Oberle, Head of Americas Financial Sponsors Group. His role involves identifying new M&A opportunities with Financial Sponsor clients and collaborating with various teams within Barclays' Investment Banking division.

This appointment underscores Barclays' focus on strengthening its M&A platform and Financial Sponsors business, anticipating increased market activity in this sector.

Barclays (BCS) has announced the appointment of Stephen Stewart as Head of M&A Execution for Canada. With over 15 years of investment banking experience, Stewart joins from TD Securities and will be based in Toronto. He will report to Ryan Voegeli, Head of Investment Banking for Canada, and Dan Grabos, Head of Americas M&A.

Stewart's extensive experience includes advising on major transactions such as the US$6.3bn take-private of Nuvei and the US$27bn sale of Refinitiv to the London Stock Exchange. This hire is part of Barclays' commitment to strengthening its Canadian platform and complementing its broader Americas and Global M&A businesses.

Barclays has been serving clients in Canada for nearly a century and continues to invest in its platform, recently hiring Jeff Lau as a Director and adding more roles across the team.

Barclays Bank PLC has updated its cash tender offers and consent solicitations for six series of exchange-traded notes (ETNs). Key points include:

1. Results for one expired series (iPath® Bloomberg Grains Subindex Total ReturnSM ETN) were announced, with 195,596 notes tendered for a total purchase price of $5,476,688.

2. The expiration deadline for five other series has been extended to September 25, 2024.

3. Purchase prices for some extended series have been amended, offering a premium to the Closing Indicative Note Value as of July 31, 2024.

4. The issuer may further amend offers based on changes in the applicable Closing Index Level.

5. Noteholders who have already tendered notes for extended series do not need to take further action.

Barclays has appointed Jonathon Traer-Clark as Head of Americas for its Global Transaction Banking (GTB) business. Traer-Clark, an award-winning treasury practitioner with over 30 years of experience, will drive GTB's growth strategy in the Americas, focusing on supporting UK and European businesses with services in the US. The GTB business offers treasury solutions, transaction banking, and lending services to large corporate, financial services, and institutional clients.

Karen Braithwaite, Barclays Global Head of Transaction Banking, emphasized the importance of Traer-Clark's expertise in the bank's multi-year growth journey in the Americas. The appointment aligns with Barclays' strategy to meet the increasing demand for innovative payments and cash management solutions in the US from UK and European clients.

This strategic hire follows the appointment of Arthur (Chip) Northrop as Head of Payments and Cash Management for the Americas in January, further strengthening Barclays' position in the region.

Barclays Bank PLC (BCS) has amended the Purchase Price for certain series of its outstanding exchange-traded notes (ETNs) in connection with its previously announced cash tender offers and consent solicitations. The amended Purchase Price per Note for the affected series reflects a premium to the Closing Indicative Note Value as of July 16, 2024. Notably:

- iPath® Bloomberg Copper Subindex Total ReturnSM ETN: Purchase Price amended to $54.00 (Closing Indicative Note Value: $51.65)
- iPath® Bloomberg Grains Subindex Total ReturnSM ETN: Purchase Price amended to $28.00 (Closing Indicative Note Value: $26.75)

The Expiration Date remains July 31, 2024, with the Purchase Price payable on August 7, 2024. Barclays reserves the right to extend, amend, or terminate the offers independently for each series.

Barclays has declared a 1-for-4 reverse split for its iPath® Series B S&P 500® VIX Short-Term Futures™ ETNs (VXX) and iPath® Series B S&P 500® VIX Mid-Term Futures™ ETNs (VXZ). The reverse split will be effective from the start of trading on July 24, 2024. On July 9, 2024, the closing indicative values were $10.2926 for VXX and $12.1973 for VXZ. Investors will receive one reverse-split adjusted ETN for every four ETNs held, with cash payments for any remaining odd number of ETNs. Adjusted ETNs will trade under the same ticker symbols but with new CUSIPs.

On June 26, 2024, the Federal Reserve Board (FRB) published the results of its annual bank stress tests. Barclays US , the US intermediate holding company of Barclays PLC, successfully maintained capital ratios above the regulatory minimums across all nine quarters of the test. Additionally, Barclays US has released its own assessment under the hypothetical severely adverse scenario set by the FRB. The detailed report is available on the Barclays website.

Barclays Bank PLC announced on December 7, 2023, its decision to redeem in full 18 series of iPath® ETNs on June 28, 2024. The affected ETNs include various commodity, currency, and financial index-linked notes. The redemption will occur after a cash tender offer and consent solicitation, amending the indenture for each ETN series. The redemption date is June 28, 2024, and the valuation date is June 21, 2024. Holders can either wait for redemption or sell their ETNs earlier. The redemption will be based on the Closing Indicative Note Value calculated on the valuation date. Investors are advised to consider the inherent risks of ETNs, which lack principal protection and are riskier than ordinary debt securities.

Barclays Bank PLC announced the results of its cash tender offers and consent solicitations for specific exchange-traded notes (ETNs). The offers for 'Expired Series' have accepted validly tendered notes and met all conditions by June 5, 2024, with settlements scheduled for June 12, 2024. The total purchase price for these notes is specified, with examples including $2,763,390 for iPath Global Carbon ETN and $2,347,885 for iPath Bloomberg Agriculture Subindex Total Return ETN. Additionally, the 'Extended Series' offers have been extended to July 31, 2024, with amended purchase prices. The purchase prices may be lower than the trading prices on the expiration date. The issuer reserves the right to amend or terminate the offers based on market conditions.