Barclays Bank PLC (“Barclays Bank”) announced today that
it has suspended, until further notice, any further sales by
Barclays Bank and its affiliates of each series of iPath® ETNs
listed in the table below, effective as of the open of trading on
Thursday, April 28, 2022. As described below, this suspension may
cause fluctuations in the trading value of such ETNs. Daily
redemptions at the option of holders of the ETNs will not be
affected by this suspension.
Name of ETN
Ticker
Exchange
CUSIP
iPath® Bloomberg Commodity Index Total
Return℠ ETN
DJP
NYSE Arca
06738C778
iPath® Shiller CAPE™ Index ETN
CAPD
NYSE Arca
06742A669
iPath® Select MLP ETN
ATMP
CBOE BZX
06742C723
iPath® Series B Bloomberg Copper Subindex
Total Return℠ ETN
JJC
NYSE Arca
06746P555
iPath® Series B Carbon ETN
GRN
NYSE Arca
06747C322
iPath® Series B Bloomberg Coffee Subindex
Total Return℠ ETN
JO
NYSE Arca
06746P563
iPath® Series B Bloomberg Grains Subindex
Total Return℠ ETN
JJG
NYSE Arca
06746P522
iPath® Series B S&P 500® VIX Mid-Term
Futures™ ETNs
VXZ
CBOE BZX
06746P613
iPath® Series B Bloomberg Nickel Subindex
Total Return℠ ETN
JJN
NYSE Arca
06746P480
iPath® Pure Beta Broad Commodity ETN
BCM
NYSE Arca
06740P114
iPath® S&P GSCI® Total Return Index
ETN
GSP
NYSE Arca
06738C794
Pacer® iPath® Gold ETN
GBUG
NYSE Arca
06747D809
iPath® Series B Bloomberg Cotton Subindex
Total Return℠ ETN
BAL
NYSE Arca
06746P548
iPath® Series B Bloomberg Tin Subindex
Total Return℠ ETN
JJT
NYSE Arca
06746P431
iPath® Series B Bloomberg Sugar Subindex
Total Return℠ ETN
SGG
NYSE Arca
06746P449
iPath® Series B Bloomberg Agriculture
Subindex Total Return℠ ETN
JJA
NYSE Arca
06746P589
iPath® Series B Bloomberg Industrial
Metals Subindex Total Return℠ ETN
JJM
NYSE Arca
06746P514
iPath® Bloomberg Cocoa Subindex Total
Return℠ ETN
NIB
NYSE Arca
06739H313
iPath® Series B Bloomberg Aluminum
Subindex Total Return℠ ETN
JJU
NYSE Arca
06746P571
Pacer® iPath® Gold Trendpilot ETN
PBUG
NYSE Arca
06747T382
iPath® Series B Bloomberg Livestock
Subindex Total Return℠ ETN
COW
NYSE Arca
06746P498
iPath® Series B Bloomberg Softs Subindex
Total Return℠ ETN
JJS
NYSE Arca
06746P456
iPath® Silver ETN
SBUG
NYSE Arca
06747D700
iPath® S&P MLP ETN
IMLP
CBOE BZX
06742A750
iPath® Series B Bloomberg Energy Subindex
Total Return℠ ETN
JJE
NYSE Arca
06746P530
iPath® Series B Bloomberg Precious Metals
Subindex Total Return℠ ETN
JJP
NYSE Arca
06746P464
iPath® Series B Bloomberg Platinum
Subindex Total Return℠ ETN
PGM
NYSE Arca
06746P472
Barclays Women in Leadership ETN
WIL
CBOE BZX
06742W430
Barclays Return on Disability ETN
RODI
CBOE BZX
06740D830
iPath® Bloomberg Lead Subindex Total
Return℠ ETN
LD
NYSE Arca
06739H263
Barclays PLC announced today that Barclays Bank plans to restate
the financial statements included in its Annual Report on Form 20-F
for the year ended December 31, 2021 (the “Form 20‑F”) filed
with the Securities and Exchange Commission (the “SEC”) and
to amend the Form 20-F to reflect such restatement and to change
its conclusions with respect to the effectiveness of its internal
control over financial reporting and disclosure controls and
procedures. Because the registration statement and prospectus under
which Barclays Bank makes sales of each series of ETNs incorporates
by reference the Form 20‑F, Barclays Bank and its affiliates cannot
continue to make sales under such registration statement and
prospectus until the restatement is completed and Barclays Bank
files an amended Form 20-F and a new shelf registration statement.
Barclays Bank expects to reopen sales of the ETNs when the amended
Form 20-F and new shelf registration statement have been filed with
the SEC and will make a further public announcement when this
action is taken.
The market value of the ETNs may be influenced by, among other
things, the levels of supply and demand for such ETNs. It is
possible that this suspension of sales may influence the market
value of the ETNs. Barclays Bank believes that the above-mentioned
limitations on sales may cause an imbalance of supply and demand in
the secondary market for the ETNs, which may cause the ETNs to
trade at a premium or discount in relation to their indicative
value. Therefore, any purchase of the ETNs in the secondary market
may be at a purchase price significantly different from their
indicative value. In particular, paying a premium purchase price
over the indicative value of the ETNs 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 table 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
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, or the Volume
Weighted Average Price (“VWAP”) level, in the case of the iPath®
S&P MLP ETN, between the inception date and the applicable
valuation date. Additionally, if the level of the underlying index
or the VWAP level, 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 or the VWAP level 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.
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
ETNs.
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 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
owners.
NOT FDIC INSURED · NO BANK
GUARANTEE · MAY LOSE VALUE
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220428005650/en/
Ann Thielke +1 212 526 1472 Ann.Thielke@barclays.com
Barclays (NYSE:BCS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Barclays (NYSE:BCS)
Historical Stock Chart
From Apr 2023 to Apr 2024