{"id":748457,"date":"2023-04-18T07:33:17","date_gmt":"2023-04-18T11:33:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/barclays-announces-the-redemption-of-21-ipath-etns\/"},"modified":"2023-04-18T07:33:17","modified_gmt":"2023-04-18T11:33:17","slug":"barclays-announces-the-redemption-of-21-ipath-etns","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/barclays-announces-the-redemption-of-21-ipath-etns\/","title":{"rendered":"Barclays Announces the Redemption of 21 iPath\u00ae ETNs"},"content":{"rendered":"

<\/p>\n

Barclays Announces the Redemption of 21 iPath\u00ae<\/sup> ETNs<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nBarclays Bank PLC (\u201cBarclays<\/b>\u201d) announced today that it will exercise its issuer call option and redeem in full each of the 21 series of iPath\u00ae<\/sup> ETNs (the \u201cETNs<\/b>\u201d) listed in the table below on June 14, 2023 (the \u201cRedemption Date<\/b>\u201d).<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\nName of ETN<\/p>\n<\/td>\n

\n

\nTicker<\/p>\n<\/td>\n

\n

\nExchange<\/p>\n<\/td>\n

\n

\nCUSIP<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Pure Beta Crude Oil ETN<\/p>\n<\/td>\n

\n

\nOIL<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06740P221<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Pure Beta Broad Commodity ETN<\/p>\n<\/td>\n

\n

\nBCM<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06740P114<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> S&P GSCI\u00ae<\/sup> Total Return Index ETN<\/p>\n<\/td>\n

\n

\nGSP<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06738C794<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Bloomberg Cocoa Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nNIB<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06739H313<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Bloomberg Lead Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nLD<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06739H263<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Natural Gas Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nGAZ<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06745T368<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Energy Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJE<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P530<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Copper Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJC<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P555<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Coffee Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJO<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P563<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Grains Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJG<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P522<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Nickel Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJN<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P480<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Cotton Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nBAL<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P548<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Tin Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJT<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P431<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Sugar Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nSGG<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P449<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Agriculture Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJA<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P589<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Industrial Metals Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJM<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P514<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Aluminum Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJU<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P571<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Livestock Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nCOW<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P498<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Softs Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJS<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P456<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Precious Metals Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nJJP<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P464<\/p>\n<\/td>\n<\/tr>\n

\n

\niPath\u00ae<\/sup> Series B Bloomberg Platinum Subindex Total ReturnSM<\/sup> ETN<\/p>\n<\/td>\n

\n

\nPGM<\/p>\n<\/td>\n

\n

\nNYSE Arca<\/p>\n<\/td>\n

\n

\n06746P472<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nIn addition, Barclays has announced that, effective immediately, it is waiving in full the minimum redemption size relating to each series of ETNs, and, subject to the conditions and procedures described in the prospectus for the relevant series of ETNs, holders of the ETNs can redeem their ETNs to Barclays with no minimum number of ETNs.<\/p>\n

\nAs described in the prospectus for each series of ETNs listed above, Barclays, as issuer of the ETNs, may redeem the ETNs in its sole discretion on any business day on or after the inception date until maturity. Holders of such ETNs on the Redemption Date will receive a cash payment per ETN equal to the applicable closing indicative value or daily redemption value, as the case may be, of the ETNs (each as defined in the prospectus relating to the ETNs) on June 7, 2023 (the \u201cValuation Date<\/b>\u201d), the fifth trading day prior to the Redemption Date (subject to postponement in the event of a market disruption event). Trading of the ETNs will be suspended before the market open on June 8, 2023.<\/p>\n

\nFor 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 heading \u201cSpecific Terms of the ETNs\u201d.<\/p>\n

\nHolders of ETNs subject to issuer redemption may choose to continue to hold their ETNs until the Redemption Date or choose to sell\/redeem their ETNs at a suitable time prior to that, subject to the paragraph below. Any redemption of ETNs is subject to the conditions and procedures described in the prospectus for the relevant series of ETNs and will be valued using the applicable closing indicative value or daily redemption value, as the case may be, on the valuation date for the transaction, in each case in accordance with the prospectus for the relevant series of ETNs. The procedures for redemption include delivering a notice of redemption and signed confirmation to Barclays prior to the relevant valuation date within the time frames set forth in the prospectus and instructing the DTC custodian at which the ETNs are held to book and settle a delivery vs. payment trade with respect to the ETNs.<\/p>\n

\nAs described in the prospectus for each series of ETNs, the Valuation Date for the issuer redemption will be the \u201cfinal valuation date\u201d for each series of ETNs. Therefore, no elections for holder redemption having a valuation date on or after June 7, 2023 will be accepted by Barclays.<\/p>\n

\nIn addition, unless otherwise announced, Barclays intends to continue to offer and sell the ETNs from its inventory through Barclays Capital Inc., as agent, until and including the Valuation Date. For more information, please see please see the prospectus relating to each affected series of ETNs under the heading \u201cSupplemental Plan of Distribution\u201d.<\/p>\n

\nAnyone 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.<\/p>\n

\nThe pricing supplement and prospectus relating to each series of ETNs can be found on EDGAR, the SEC\u2019s website at www.sec.gov<\/a>, as well as on the product website at the product page for each of the ETNs listed in the table above at ipathetn.barclays<\/a>.<\/p>\n

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 \u201cSelected Risk Considerations\u201d below and the risk factors included in the relevant pricing supplement.<\/b><\/p>\n

\nBarclays Bank is the issuer of the ETNs and Barclays Capital Inc. is the issuer\u2019s agent in the distribution. Please contact Barclays Bank for further questions:<\/p>\n