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Barclays Suspends Until Further Notice Further Sales of the iPath ® Series B Bloomberg Natural Gas Subindex Total Return SM ETNs (the “ETNs”)

Barclays Bank PLC (“Barclays”) announced today that it has suspended, until further notice, any further sales of the iPath® Series B Bloomberg Natural Gas Subindex Total ReturnSM ETNs due March 5, 2037 (Ticker: GAZ; Exchange: NYSE Arca), effective as of the open of trading on Monday, April 25, 2022. As described below, this suspension may cause fluctuations in the trading value of such ETNs. Daily redemptions at the option of holders of the ETNs will not be affected by this suspension.

This suspension is being imposed because Barclays believes that it does not currently have sufficient capacity of registered ETNs issued under its shelf registration statement to support further sales. For information regarding Barclays’ prior cessation of issuance under its shelf registration statement, please refer to the announcement Impact of over-issuance under BBPLC US Shelf made by Barclays on March 28, 2022. Barclays expects to reopen sales of the ETNs when it can accommodate additional capacity for future issuances under a new shelf registration statement filed with the Securities and Exchange Commission. This suspension does not impact any other series of exchange-traded notes other than those described herein.

The market value of the ETNs may be influenced by, among other things, the levels of supply and demand for such ETNs. It is possible that this suspension of sales may influence the market value of the ETNs. Barclays believes that the above-mentioned limitations on sales may cause an imbalance of supply and demand in the secondary market for the ETNs, which may cause the ETNs to trade at a premium or discount in relation to their indicative value. Therefore, any purchase of the ETNs in the secondary market may be at a purchase price significantly different from their indicative value. In particular, paying a premium purchase price over the indicative value of the ETNs could lead to significant losses in the event an investor sells ETNs at a time when such premium is no longer present in the marketplace or if Barclays redeems the ETNs at its discretion. The pricing supplement relating to the ETNs can be found on EDGAR, the SEC website at www.sec.gov, as well as on the product website at ipathetn.barclays.

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 “Selected Risk Considerations” below and the risk factors included in the relevant pricing supplement.

The pricing supplement for the ETNs to which this communication relates can be found at: http://ipathetn.barclays/gazprospectus.

Barclays is the issuer of the 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 to call us at: 1- 212-528-7990 You may call in together with your broker/advisor/custodian or have them speak to us on your behalf.

About Barclays

Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a full-service corporate and investment bank. For further information about Barclays, please visit our website www.barclays.com.

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 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 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, if 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: 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.

Market and Volatility Risk: The market value of the ETNs may be influenced by many unpredictable factors and may fluctuate between the date you purchase them and the maturity date or redemption date. You may also sustain a significant loss if you sell your ETNs in the secondary market. Factors that may influence the market value of the ETNs include prevailing market prices of the U.S. stock markets or the U.S. Treasury market, 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 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: 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 as specified in the pricing supplement, you must redeem at least the minimum number of ETNs specified in the pricing supplement 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 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.

© 2022 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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