NEW YORK--(BUSINESS WIRE)--New York, October 1, 2020 – Barclays Bank PLC announced today the results of its previously announced cash tender offer to purchase any and all of its iPath® S&P GSCI Crude Oil Total Return Index ETNs due August 14, 2036 (Ticker: OILNF / CUSIP: 06738C760 / ISIN: US06738C7609) and solicitation of consents from holders of the Notes to amend certain provisions of the Notes as described below, subject to the conditions and restrictions set out in the Amended and Restated Offer to Purchase and Consent Solicitation Statement dated September 2, 2020.

The Offer and Consent Solicitation expired at 5:00 p.m., New York City time, on September 30, 2020 (the “Expiration Deadline”). The Issuer has received and accepted 190,215 Notes validly tendered and not validly withdrawn prior to the Expiration Deadline, representing approximately 25.30% of the outstanding Notes as of the Expiration Deadline.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 $9,510,750, reflecting the previously announced purchase price of $50 per $2,000 principal amount of Notes (the “Purchase Price”). On October 2, 2020 (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 not obtained the requisite consents to the Proposed Amendment and accordingly, the Proposed Amendment will not be effectuated. Notes purchased by the Issuer pursuant to the Offer will be cancelled on the Settlement Date. Notes that were not validly tendered and/or accepted for purchase pursuant to the 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.

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.