iPath® B S&P 500® VIX Md-Trm Futs™ ETN SEC Filings

Barclays Bank has issued $1,187,000 in Callable Contingent Coupon Notes due March 30, 2027, linked to the performance of the S&P 500, Russell 2000, and Nasdaq-100 indices. The notes offer potential periodic contingent coupons of $6.875 per $1,000 principal amount (8.25% per annum) if all reference assets close at or above their respective coupon barrier values.

Key features include:

• Initial estimated value of $968.80 per note, below the $1,000 issue price
• 70% downside protection barrier at maturity
• Early redemption available after first three months at issuer's discretion
• Contingent coupon payments subject to all indices meeting 75% barrier level
• Full exposure to downside risk if worst-performing index falls below 70% barrier

Important risks include potential 100% principal loss, credit risk of Barclays Bank, and exposure to U.K. Bail-in Power. The notes are not listed on any exchange and constitute unsecured obligations without FDIC or U.K. FSCS protection.

The Toronto-Dominion Bank (TD) has filed a preliminary Term Sheet for a new series of Accelerated Return Notes® (ARNs) linked to the SPDR® EURO STOXX 50® ETF (ticker: FEZ). The offering is structured as senior unsecured debt maturing in approximately 14 months (pricing expected in July 2025, maturity in September 2026). Each $10 unit provides 3-to-1 leveraged upside exposure to any increase in the ETF, subject to a capped redemption value of $11.65–$12.05 per unit (representing a total return of 16.5%–20.5%). Investors receive their payoff only at maturity; no periodic coupons are paid.

Downside risk is 1-for-1; if the ETF’s Ending Value is below the Starting Value, holders lose principal in direct proportion to that decline, up to a total loss of $10 per unit. All payments depend on TD’s credit; the notes are not FDIC or CDIC insured and rank pari passu with other senior unsecured TD debt.

The initial estimated value at pricing is projected between $9.344 and $9.644, below the $10 public offering price, reflecting an underwriting discount of $0.175 per unit and a hedging-related charge of $0.05 per unit. Orders of ≥300,000 units qualify for a reduced public price of $9.95 and a $0.125 discount. BofA Securities and TD serve jointly as calculation agents; Merrill Lynch, Pierce, Fenner & Smith will act as distributor. The notes will not be listed on any exchange, and the issuer is not obligated to provide secondary market liquidity.

Key risks highlighted include: potential full principal loss, capped upside, valuation below issue price, limited liquidity, currency and foreign-market exposure inherent in Eurozone equities, model-driven pricing uncertainties, and TD credit exposure. Tax treatment is uncertain; TD and investors intend to treat the ARNs as prepaid derivative contracts, but alternative outcomes (e.g., Section 1260 constructive-ownership rules) are possible.

Investor suitability: the product targets investors who expect a modest rise in Eurozone equities, are willing to forego dividends and uncapped upside, and can bear both TD credit risk and full downside risk.

Barclays Bank PLC has issued $1,064,000 in notes due June 30, 2027, linked to the Barclays Trailblazer Switch Index. The notes offer leveraged exposure of 2.25x to the index's potential appreciation from the Initial Underlier Value of 182.6351.

Key features include:

• Minimum denomination of $1,000
• No interest payments
• Index includes a 0.85% annual fee and synthetic borrowing costs
• If Final Underlier Value exceeds Initial Value: Payment = $1,000 + ($1,000 × Underlier Return × 2.25)
• If Final Underlier Value is lower: Return of principal ($1,000)

Important risks: Notes are subject to Barclays' creditworthiness and U.K. Bail-in Power. The estimated value of $961.70 per $1,000 note is less than the issue price. Trading costs and index fees may offset index performance. Notes will not be listed on any U.S. exchange.

Barclays Bank has issued $3,218,000 in Phoenix AutoCallable Notes due June 29, 2028, linked to the performance of the Russell 2000 Index, Nasdaq-100 Index, and Energy Select Sector SPDR Fund. The notes are offered at $1,000 per denomination with an estimated value of $962.60.

Key features include:

• Contingent Coupon of $7.083 per note (8.50% per annum) if all Reference Assets close above their Coupon Barrier Values
• Automatic Call feature starting after 6 months if all Reference Assets close at or above their Call Values
• Barrier protection at 60% of Initial Values; full exposure to losses below this level
• Notes subject to Barclays' creditworthiness and U.K. Bail-in Power

The offering includes agent commissions of up to 2.80% ($89,955 total). These structured notes carry significant risks including potential loss of principal and are not FDIC insured or guaranteed by any third party.

Houlihan Lokey (HLI) Form 4 highlights: Co-Chairman and 10% owner Irwin N. Gold converted 5,000 Class B shares into 5,000 Class A shares on 06/24/2025 (Code C, $0 cost). Two days later, on 06/26/2025, he donated the entire 5,000 Class A shares to a charitable entity (Code G, $0 received). After these transactions Mr. Gold’s direct Class A holding returns to zero, while his indirect interest remains substantial through the HL Voting Trust, which still holds 1,083,196 Class B shares convertible 1-for-1 into Class A. The actions do not involve cash proceeds, have no dilutive effect, and leave the company’s share count unchanged.

Barclays Bank has issued $185,000 in Autocallable Step Up Notes due June 30, 2032, linked to the Barclays Trailblazer Switch Index. These structured notes offer unique features:

• Notes will automatically redeem if the underlying index reaches specified call values, offering premiums ranging from 10% to 60%
• Initial issue price of $1,000 per note with an estimated value of $935.40
• No regular interest payments
• If not automatically redeemed, offers unleveraged exposure to index appreciation
• Principal protection if the final index value is below initial value

Key risks include: 0.85% annual index fee, synthetic borrowing costs, no dividend payments, and exposure to Barclays' credit risk. The notes include U.K. Bail-in Power provisions and are not FDIC insured. Barclays Capital will receive commissions up to $45.00 per note, with total agent commissions of $7,863.

Barclays Bank has issued $311,000 in Phoenix AutoCallable Notes due June 28, 2030, linked to the performance of the S&P 500, Dow Jones Industrial Average, and Nasdaq-100 indices. The notes offer a contingent coupon of $5.833 per $1,000 principal amount (7.00% per annum) if all reference assets close above their respective barrier values on observation dates.

Key features include:

• Automatic call feature activating after first year if all indices close at or above their call values
• Principal protection if the least performing index stays above 70% of its initial value
• Risk of up to 100% principal loss if worst-performing index falls below barrier value
• Initial estimated value of $944.10 per note, below the issue price of $1,000

The notes are subject to Barclays' creditworthiness and U.K. Bail-in Power, which could result in the modification, cancellation, or conversion of the notes. They are not FDIC insured or listed on any U.S. securities exchange.

Barclays Bank has issued $1,000,000 in Phoenix AutoCallable Notes due June 28, 2030, linked to the performance of three reference assets: Russell 2000 Index, Utilities Select Sector SPDR Fund, and EURO STOXX 50 Index.

Key features include:

• $1,000 minimum denomination with 7.65% per annum contingent coupon rate ($19.125 per note quarterly)
• Automatic call feature activates after first year if all reference assets close at or above their call values
• 70% coupon barrier and 60% principal barrier levels
• Estimated value of $939.10 per note, below the $1,000 issue price

Notable risks include potential 100% loss of principal if any reference asset falls below its barrier value at maturity. The notes are subject to Barclays' creditworthiness and U.K. Bail-in Power, which could result in write-down, conversion, or modification of the notes. Trading will be limited as notes won't be listed on any U.S. exchange.

Key transaction details: Selling securityholders, led by Sycamore Partners, are offering 10,000,000 shares of Torrid Holdings Inc. (NYSE: CURV) at a public offering price of $3.50, a 31% discount to the $5.08 closing price on 23 Jun 2025. Gross proceeds total $35.0 million; underwriting discounts are $0.18375 per share (5.25%), leaving $33.16 million to the sellers. An over-allotment option gives underwriters another 1.5 million shares within 30 days.

Concurrent repurchase: Torrid has separately agreed to repurchase $20 million of its own stock—approximately 6,030,908 shares—from Sycamore at the same $3.50 price. The buyback is contingent on the offering’s close, has board and audit-committee approval, and will settle concurrently on or about 26 Jun 2025. Underwriters receive no fees on the repurchased shares.

Impact on capital structure: Because the deal is a purely secondary sale, Torrid receives no new capital; instead, it spends $20 million in cash. If the repurchased shares are retired, net share count rises by roughly 3.97 million (10 million issued less 6.03 million repurchased). Public float increases, enhancing liquidity, while Sycamore’s ownership stake and influence decline.

Investor considerations: • Discounted pricing may pressure the share price near-term. • Cash outflow reduces balance-sheet flexibility but signals management’s confidence. • Increased float could attract new investors and research coverage. • The offering’s success and any exercise of the 1.5 million-share option will determine the final ownership mix.