Barclays Bank PLC Announces Expiration of Concurrent Exchange Offer and Cash Tender Offer and Preliminary Results

Barclays Bank PLC (“Barclays”) announced today that it will not extend its previously announced concurrent:

• exchange offer (the “Exchange Offer”) to exchange any and all of its iPath S&P GSCI Crude Oil Total Return Index ETNs due August 14, 2036 (CUSIP: 06738C760/ISIN: US06738C7609) (the “Old Notes”) for iPath Pure Beta Crude Oil ETNs due April 18, 2041 (CUSIP: 06740P221/ISIN: US06740P2213) (the “New Notes” and together with the Old Notes, the “ETNs”); and

• cash tender offer (the “Tender Offer”) to purchase any and all of its Old Notes.

   

Each of the Exchange Offer and the Tender Offer is accompanied by a solicitation of consents (the “ Consent Solicitation”) from holders of the Old Notes (the “ Noteholders”) to amend certain provisions of the Old Notes (the “ Proposed Amendment”). The Exchange Offer and Consent Solicitation are subject to the conditions and restrictions set out in the prospectus dated June 17, 2021, as supplemented by the prospectus supplements dated July 30, 2021, August 16, 2021 and August 27, 2021 (as amended or supplemented from time to time, the “ Prospectus”). The Tender Offer and Consent Solicitation are subject to the conditions and restrictions set out in the Amended and Restated Offer to Purchase and Consent Solicitation Statement dated August 27, 2021 (as amended or supplemented from time to time, the “ Statement”). Capitalized terms used and not otherwise defined in this announcement have the meanings given in the Prospectus or the Statement, as applicable.

In addition, Barclays announced today final results of the Exchange Offer and preliminary results of the Tender Offer. The Exchange Offer and its accompanying Consent Solicitation expired at 5:00 p.m., New York City time, on August 31, 2021. The following results are preliminary as the Tender Offer and its accompanying Consent Solicitation do not expire until 11:59 p.m., New York City time, on August 31, 2021. Barclays does not intend to announce the final results of the Tender Offer or the Consent Solicitation unless there is a material change prior to the scheduled expiration deadline from the preliminary results set forth below.