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Barclays Bank PLC (the " Issuer ") announced today the results of its previously announced cash tender offers (each, an " Offer ") to purchase any and all of its outstanding exchange-traded notes (the " Notes " or the " ETNs ") of the two separate series listed in the table below (each, a " Series ") and the solicitation of consents (each, a " Consent Solicitation ") from holders of the Notes (the " Noteholders ") to amend certain provisions of the Notes with respect to each Series.
Each Offer and Consent Solicitation is subject to the conditions and restrictions set out in the Initial Statement, as supplemented by Supplement No. 16 dated June 25, 2025 (as so supplemented, and as it may be further supplemented or amended from time to time, the " Statement " ). The " Initial Statement " is the Offer to Purchase and Consent Solicitation Statement dated December 7, 2023, as supplemented by Supplement No. 1 dated March 7, 2024, Supplement No. 2 dated March 20, 2024, Supplement No. 3 dated April 4, 2024, Supplement No. 4 dated May 20, 2024, Supplement No. 5 dated June 5, 2024, Supplement No. 6 dated July 16, 2024, Supplement No. 7 dated July 31, 2024, Supplement No. 8 dated September 10, 2024, Supplement No. 9 dated September 25, 2024, Supplement No. 10 dated November 4, 2024, Supplement No. 11 dated November 20, 2024, Supplement No. 12 dated January 13, 2025, Supplement No. 13 dated January 29, 2025, Supplement No. 14 dated March 26, 2025 and Supplement No. 15 dated April 16, 2025. Capitalized terms used and not otherwise defined in this announcement have the meanings given in the Statement .
The Offer and Consent Solicitation with respect to each Series expired at 6:00 p.m., New York City time, on September 24, 2025 (with respect to each Series, the " Expiration Deadline "). With respect to each Series, the Issuer has received and accepted the number of Notes validly tendered and not validly withdrawn prior to the Expiration Deadline set forth in the table below. All conditions to the Offers were deemed satisfied or waived by the Issuer as of the Expiration Deadline. The previously announced purchase price per Note (the " Purchase Price ") for each Series and the aggregate purchase price of the Notes of each Series accepted by the Issuer are set forth in the table below. On October 1, 2025 (the " Settlement Date "), Noteholders whose Notes have been accepted for purchase pursuant to an Offer will receive the applicable Purchase Price.
With respect to the Consent Solicitation for each Series, the Issuer has not obtained the requisite consents pursuant to the Consent Solicitation and, accordingly, the Proposed Amendment will not be effectuated. Notes purchased by the Issuer pursuant to an Offer will be cancelled on the Settlement Date. Notes of each Series that were not validly tendered and/or accepted for purchase pursuant to an Offer will remain outstanding after the Settlement Date.
Capitalized terms used and not otherwise defined in this announcement have the meanings given in the Statement.
| Title of Note | Bloomberg | CUSIP / ISIN | Number of Notes | Purchase Price | Aggregate |
| iPath ® CBOE S&P 500 BuyWrite Index SM ETN | BWVTF | 06739F135 / GB00B1WL1590 | 6,111 | $130.00 | $794,430.00 |
| iPath ® Bloomberg Energy Subindex Total Return SM ETN | JJETF | 06739H750 / US06739H7504 | 27,238 | $7.50 | $204.285.00 |
For Further Information
A complete description of the terms and conditions of the Offers is set out in the Statement. Copies of the Statement are available at http://ipathetn.barclays/static/tenderoffers.app . Further details about the transaction can be obtained from:
The Dealer Manager
Barclays Capital Inc.
745 Seventh Avenue
New York, New York 10019, United States
Telephone: +1 212-528-7990
Attn: Barclays ETN Desk
Email: etndesk@barclays.com
The Tender Agent
The Bank of New York Mellon
160 Queen Victoria Street
London EC4V 4LA
United Kingdom
Attn: Debt Restructuring Services
Telephone: +44 1202 689644
Email: debtrestructuring@bnymellon.com
DISCLAIMER
This announcement must be read in conjunction with the Statement. No offer or invitation to acquire or exchange any securities is being made pursuant to this announcement. This announcement and the Statement contain important information, which must be read carefully before any decision is made with respect to the Offers and Consent Solicitations. If any Noteholder is in any doubt as to the action it should take, it is recommended to seek its own legal, tax and financial advice, including as to any tax consequences, from its stockbroker, bank manager, lawyer, accountant or other independent financial adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in an Offer and Consent Solicitation. None of the Issuer, the Dealer Manager or the Tender Agent (or any person who controls, or is a director, officer, employee or agent of such persons, or any affiliate of such persons) makes any recommendation as to whether Noteholders should participate in any Offer and Consent Solicitation.
General
Neither this announcement, the Statement nor the electronic transmission thereof constitutes an offer to buy or the solicitation of an offer to sell Notes (and tenders of Notes for purchase pursuant to the Offers will not be accepted from Noteholders) in any circumstances in which such Offer or solicitation is unlawful. In those jurisdictions where the Notes, blue sky or other laws require the Offers to be made by a licensed broker or dealer and the Dealer Manager or any of its affiliates is such a licensed broker or dealer in any such jurisdiction, the Offers shall be deemed to be made by such Dealer Manager or such affiliate, as the case may be, on behalf of the Issuer in such jurisdiction. None of the Issuer, the Dealer Manager or the Tender Agent (or any director, officer, employee, agent or affiliate of, any such person) makes any recommendation as to whether Noteholders should tender Notes in the Offers or Consent Solicitations. In addition, each Noteholder participating in an Offer will be deemed to give certain representations in respect of the other jurisdictions referred to below and generally as set out in the Statement under the section entitled " Procedures for Participating in the Offer ." Any tender of Notes for purchase pursuant to an Offer from a Noteholder that is unable to make these representations will not be accepted.
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 change in the level of the underlying index (the " index ") between the inception date and the applicable valuation date. Additionally, if the level of the 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 level of such index has increased or decreased, as the case may be. 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.
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 commodity markets, 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 exchange traded notes or funds. The ETNs can therefore experience greater volatility than other exchange traded notes, funds or investments.
A Trading Market for the ETNs May Not Develop: The ETNs are not listed on any securities exchange. A trading market for the ETNs may not develop and the liquidity of the ETNs may be limited.
No Interest Payments from the ETNs: You may not receive any interest payments on the ETNs.
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 through certain brokerage accounts. 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.
© 2025 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 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250924002186/en/
Press Contact:
Ann Thielke
+1 212 526 1472
Ann.Thielke@barclays.com
