Barclays PLC - BCS STOCK NEWS

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.

Barclays has appointed Daniel Hanna as the new Global Head of Sustainable Finance for the Corporate and Investment Bank. This role aims to establish a market-leading center of excellence focused on sustainable finance. With a background from Standard Chartered, Hanna will enhance client relationships and leverage Barclays' expertise in green financing. The bank has already facilitated £74 billion in green financing, positioning itself as a key player in funding low-carbon projects. Barclays plans to support the transition to a low-carbon economy, critical for sustainable growth.

Barclays has appointed Marc Giannoni as Managing Director and Chief US Economist for Research, based in New York. Reporting to Christian Keller, Giannoni brings extensive experience from the Federal Reserve Bank of Dallas and Federal Reserve Bank of New York, specializing in macroeconomics and monetary policy. His expertise is expected to enhance Barclays' research capabilities during uncertain economic times. Giannoni holds a PhD in Economics from Princeton University and has engaged in various research affiliations.

Barclays Bank PLC is reminding investors that the iPath® Shiller CAPE™ ETNs will mature on October 12, 2022. Holders will receive a cash payment equal to the closing indicative value on October 4, 2022. Until October 11, holders can sell ETNs on the secondary market and redeem them under specified conditions. Barclays also waives the minimum holder redemption size of 25,000 ETNs. Investors interested in sector-based strategies can explore the newly launched DoubleLine Shiller CAPE® U.S. Equities ETF (CAPE). Investors should be aware of the significant risks involved with ETNs.

Barclays Bank PLC (BCS) has updated the list of securities for its rescission offer, amending the prospectus supplement previously filed on August 1, 2022. This follows prior announcements made on March 28, May 23, July 25, and August 1, 2022. The terms and conditions of the rescission offer remain unchanged, except for those amended in the latest filing. Investors can access the updated prospectus on the SEC’s website. Barclays cautions that forward-looking statements about future performance may vary significantly from actual results, due to various risks and uncertainties.