Barclays Bank PLC Announces Results of Cash Tender Offer and Consent Solicitation for its iPath S&P GSCI Crude Oil Total Return Index ETNs (ticker OILNF)

Barclays Bank PLC (the “Issuer”) announced today the results of its previously announced cash tender offer (the “Offer”) to purchase any and all of its iPath S&P GSCI Crude Oil Total Return Index ETNs due August 14, 2036 (CUSIP: 06738C760/ISIN: US06738C7609) (the “Notes” or the “ETNs”) and solicitation of consents (the “Consent Solicitation”) from holders of the Notes (the “Noteholders”) to amend certain provisions of the Notes, subject to applicable offer and distribution restrictions set out in the Amended and Restated Offer to Purchase and Consent Solicitation Statement dated December 1, 2022 (the “Statement”). The Offer and Consent Solicitation were amended and extended on December 1, 2022.

The Offer and Consent Solicitation expired at 11:59 p.m., New York City time, on January 3, 2023 (the “Expiration Deadline”). The Issuer has received and accepted 190,031 Notes validly tendered and not validly withdrawn prior to the Expiration Deadline, representing approximately 52.36% of the outstanding Notes as of the Expiration Deadline. All conditions to the Offer were deemed satisfied or waived by the Issuer as of the Expiration Deadline. The aggregate purchase price of the Notes accepted by the Issuer is $38,401,464.48, reflecting the previously announced purchase price of $202.08 per Note (the “Purchase Price”). On January 5, 2023 (the “Settlement Date”), Noteholders whose Notes have been accepted for purchase pursuant to the Offer will receive the previously announced Purchase Price.

Pursuant to the Consent Solicitation, the Issuer has obtained the requisite consents to the Proposed Amendment (as defined below). The indenture and the global certificate with respect to the Notes will be amended on the Settlement Date to provide the Issuer with the right to redeem, in its sole discretion, all, but not less than all, of the outstanding Notes on the Redemption Date for a cash payment per Note equal to the Closing Indicative Note Value on the valuation date (the “Valuation Date”) specified by the Issuer in the redemption notice. The “Redemption Date” will be the fifth Business Day after the Valuation Date. The amendment described in this paragraph is referred to as the “Proposed Amendment”.