BCS Barclays PLC ADS

Barclays Announces Reminder of Upcoming ETN Delistings and Issuer Redemptions

Barclays Bank PLC (“Barclays”) issued a reminder notice today regarding the upcoming delisting of certain Barclays ETNs and the issuer redemption of certain other Barclays ETNs. Barclays announced these delistings and issuer redemptions on January 11, 2018 in the press releases linked below, which contain the list of impacted ETNs:

Barclays Announces Launch of 15 Commodity ETNs and Delisting of Certain Commodity ETNs

Barclays Announces Upcoming Delisting of 16 ETNs and Issuer Redemption of 18 Other ETNs

All ETNs to be delisted will be delisted from the NYSE Arca exchange effective after the close of trading on April 12, 2018 (the “Delisting Date”).

After the close of trading on the Delisting Date, Barclays will suspend, until further notice, any further sales from inventory and any further issuances of each series of the ETNs to be delisted. The ETNs to be delisted will be assigned new tickers as per the normal process during the transfer of securities to OTC Markets. The CUSIP and ISIN identifiers for the ETNs to be delisted will remain unchanged.

All ETNs to be redeemed will be delisted from the NYSE Arca exchange effective prior to the open of trading on the Delisting Date. The redemption date of each series of ETNs to be redeemed will be April 12, 2018. Holders of the ETNs to be redeemed will receive on the redemption date a cash payment per ETN equal to the closing indicative value or closing indicative note value of that series of ETNs on April 5, 2018, which is the fifth business day prior to the redemption date.

For more information regarding the issuer redemption, including how the redemption value is determined, please see the prospectus relating to each affected series of ETNs under the headings “Specific Terms of the ETNs—Payment Upon Holder Redemption and Issuer Redemption” and “Specific Terms of the ETNs—Issuer Redemption Procedures”.

Anyone considering investing in the ETNs or continuing to hold the ETNs should consider the risks described in the prospectus for the relevant series of ETNs when making an investment decision and consult with their broker or financial adviser to evaluate their investment in the ETNs.

The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. The ETNs are unsecured debt obligations of the issuer, Barclays Bank PLC, and are not, either directly or indirectly, an obligation of or guaranteed by any third party. An investment in the ETNs involves significant risks, including possible loss of principal, and may not be suitable for all investors. For more information on risks associated with the ETNs, please see "Selected Risk Considerations" below and the risk factors included in the relevant prospectus.

The 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 links listed in the respective press release for the relevant series. Barclays Bank PLC is the issuer of iPath® ETNs and Barclays Capital Inc. is the issuer’s agent in the distribution.

For further information, please instruct your broker/advisor/custodian to email us at [email protected] or alternatively, your broker/custodian can call us at: 1-212-528-7990. iPath ETN related press releases can be found at: www.ipathetn.com/pressreleases

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 decrease 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. Because the ETNs are subject to an investor fee and any 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 the issuer, 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 and is subject to the exercise of any U.K. Bail-In Power by the relevant U.K. resolution authority under the U.K. Banking Act 2009, as amended and the Financial Services and Markets Act 2000. 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, in the event Barclays Bank PLC were to default on its obligations or become subject to the exercise of any U.K. Bail-In Power (or any other resolution measure) by the relevant U.K. resolution authority, 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 currently listed on NYSE Arca, 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 in the circumstances described above, your right to redeem your ETNs on any redemption date may be subject to a requirement that you redeem a certain minimum number of ETNs of the same series. 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.

© 2018 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

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over /40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website www.home.barclays.

EN
03/04/2018

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Barclays PLC ADS

Barclays Bank PLC: Update to credit analysis

Our credit view of this issuer reflects its good risk-weighted capitalisation, supported by its improving profitability and strong liquidity, constrained by its weak leverage.

Barclays Bank PLC: Update to credit analysis

Our credit view of this issuer reflects its good risk-weighted capitalisation, supported by its improving profitability and strong liquidity, constrained by its weak leverage.

Moody's assigns P-1 rating to Barclays Bank PLC's Mexican Peso 310 mil...

Moody's Investors Service (Moody's) has today assigned a P-1 rating to Barclays Bank PLC Mexican Peso 310 million Notes due August 30 2024 (ISIN XS2593690378). At the same time, Moody's has withdrawn the A1 rating previously assigned to these notes, which had a stable outlook. RATINGS RATIONALE ...

Barclays Bank PLC: Update following affirmation of A1 senior unsecured...

Our credit view of this issuer reflects its good risk-weighted capitalisation, supported by its improving profitability and strong liquidity, constrained by its weak leverage.

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

More Downside to Lead to Buying Opportunity? Market dynamics remain largely bearish and unchanged, and we are sticking with our call that breaks of supports (3910 on S&P 500, $177.50 on IWM, and $279 on QQQ, all broken on Dec. 15) are likely to result in a test of the 2022 lows. The Nasdaq 100 (QQQ) is already testing its 2022 lows, but the S&P 500 and Russell 2000 (IWM) are still 6-9% above their 2022 lows. Depending on how the market responds to its 2022 lows, that could be a better area to i...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch