Barclays Bank PLC announced the results of its cash tender offer for its iPath® S&P GSCI® Crude Oil Total Return Index ETNs due August 14, 2036. The offer, which expired on January 3, 2023, saw 190,031 Notes accepted, representing 52.36% of the outstanding Notes, with an aggregate purchase price of $38,401,464.48. The consent solicitation for amending certain provisions of the Notes was successful, allowing the Issuer to redeem all outstanding Notes soon after the amendment. Settlement for accepted Notes will occur on January 5, 2023, with the purchase price at $202.08 per Note.
Barclays Bank PLC announced the purchase price of $202.08 per note for its cash tender offer to buy all iPath S&P GSCI Crude Oil Total Return Index ETNs due August 14, 2036. This purchase price reflects a 3% premium over the closing indicative note value of $196.19 as of January 3, 2023. The offer and consent solicitation will expire at 11:59 p.m. New York City time on January 3, 2023. Noteholders must validly tender their notes before this expiration to receive the purchase price. Barclays reserves the right to amend or withdraw the offer at any time.
Barclays Bank PLC has announced an extension of its cash tender offer for all iPath S&P GSCI Crude Oil Total Return Index ETNs. Originally set to expire on November 30, 2022, the new expiration date is January 3, 2023. Notably, the purchase price premium has been increased from 2% to 3% based on the closing indicative note value on January 3. As of the previous deadline, 98,990 Notes were tendered, representing 27.27% of outstanding Notes. Investors are warned that the purchase price may decline if the underlying index value drops.