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Barclays Announces Split of Certain iPath® ETNs

Barclays announced today that it will implement a split for the following series of iPath® ETNs (together, the “ETNs”):

ETN Name

 

Ticker

 

Exchange

 

CUSIP

 

Split Ratio

iPath® Shiller CAPETM ETN

 

CAPE

 

NYSE Arca

 

06742A669

 

10:1

iPath® Series B Carbon ETN

 

GRN

 

NYSE Arca

 

06747C322

 

5:1

iPath® Series B Bloomberg Agriculture

Subindex Total ReturnSM ETN

 

JJA

 

NYSE Arca

 

06746P589

 

3:1

iPath® Series B Bloomberg Copper

Subindex Total ReturnSM ETN

 

JJC

 

NYSE Arca

 

06746P555

 

3:1

iPath® Series B Bloomberg Nickel

Subindex Total ReturnSM ETN

 

JJN

 

NYSE Arca

 

06746P480

 

3:1

The split for each series of ETNs will be effective at the open of trading on Friday, June 4, 2021 (the “Ex-Date”). Here are the other relevant dates:

Record Date

  Wednesday, 6/2/2021

Pay Date

  Thursday, 6/3/2021

Ex-Date

  Friday, 6/4/2021

Barclays Bank PLC has the right (but not the obligation) to initiate such a split of each series of ETNs in its sole discretion, as described in the relevant pricing supplement relating to each series of ETNs.

The closing indicative value of each series of ETNs on June 3, 2021 (the “Pay Date”) will be divided by the split ratio indicated in the table above for each series of ETNs to determine the split‑adjusted closing indicative value of the ETNs. The number of ETNs of each series outstanding at the close of trading on the Pay Date correspondingly will be multiplied by the relevant split ratio to determine the adjusted number of ETNs of each series outstanding as of the Ex-Date. The split will be effective on the Ex-Date at the open of trading on June 4, 2021, and the ETNs will begin trading on NYSE Arca on a split-adjusted basis on such date. The split-adjusted ETNs will retain the same CUSIP, ISIN and ticker symbol.

For more information regarding the split process, including how the split-adjusted value is determined, see the relevant pricing supplement relating to each series of ETNs under the heading “Valuation of the ETNs—Split or Reverse Split of the ETNs.” The pricing supplements relating to the ETNs can be found on EDGAR, the SEC website, at: www.sec.gov. The prospectuses are also available on the product website at the following links:

iPath® Shiller CAPETM ETN: www.iPathETN.com/capeprospectus

iPath® Series B Carbon ETN: www.iPathETN.com/grnprospectus

iPath ® Series B Bloomberg Agriculture Subindex Total Return SM ETN: www.iPathETN.com/jjaprospectus

iPath® Series B Bloomberg Copper Subindex Total ReturnSM ETN: www.iPathETN.com/jjcprospectus

iPath® Series B Bloomberg Nickel Subindex Total ReturnSM ETN: www.iPathETN.com/jjnprospectus

Barclays Bank PLC is the issuer of iPath® ETNs and Barclays Capital Inc. is the issuer’s agent in the distribution. Please contact Barclays for further questions:

Financial advisors: Directly contact Barclays 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 call us at: 1-212-528-7990. You may call together with your broker/advisor/custodian or have them speak to us on your behalf.

About Barclays

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 83,500 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com

Selected Risk Considerations

An investment in the iPath 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 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 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. 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, 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 a series of 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.

Market and Volatility Risk: The prices of equities or physical commodities, including the commodities underlying the index components, can fluctuate widely due to supply and demand disruptions in major producing or consuming regions. Additionally, the market value of the ETNs may be influenced by many unpredictable factors including changes in supply and demand relationships, governmental policies and economic events. Factors that may influence the market value of the ETNs also include prevailing market prices of the U.S. stock markets, the index components included in the underlying index, and prevailing market prices of options on such index or any other financial instruments related to such index; and supply and demand for the ETNs, including economic, financial, political, regulatory, geographical or judicial events that affect the level of such index or other financial instruments related to such index.

Concentration Risk: Because certain of the ETNs are linked to an index composed of futures contracts on a single commodity or in only one commodity sector, the ETNs are less diversified than other funds. The ETNs can therefore experience greater volatility than other funds or investments.

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: You must redeem a specified number of the same series 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 product prospectus.

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. There are restrictions on the minimum number of ETNs you may redeem directly with the issuer as specified in the applicable prospectus. 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.

© 2021 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

 

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