Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
14 März 2022 - 02:31PM
Edgar (US Regulatory)
Filed Pursuant to
Rule 424(b)(2)
Registration No. 333-232144
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Amendment No. 1 dated March 14, 2022 to the
Pricing Supplement dated March 3, 2022 to the
Prospectus dated August 1, 2019, the
Prospectus Supplement dated August 1, 2019 and
the Prospectus Supplement Addendum dated February 18, 2021 |
iPath®
Pure Beta Crude Oil ETN
This amendment No. 1 amends and supplements the
original pricing supplement dated March 3, 2022 (the “Pricing Supplement”) for the iPath® Pure Beta
Crude Oil Exchange-Traded Notes (Ticker: OIL) (the “ETNs”). The terms of the ETNs are as described in the Pricing Supplement
and include the specific amendments described below. Terms used but not defined herein have the meanings given to them in the Pricing
Supplement.
No Further Sales or Issuances: Effective
as of the open of trading on March 14, 2022, we will suspend, until further notice, any further sales from inventory and any further issuances
of the ETNs. As a result of this modification, the Pricing Supplement is amended to reflect this suspension.
Risk Factors: As described in the Pricing
Supplement, under the heading “Risk Factors ― The Market Value of the ETNs May Be Influenced by Many Unpredictable Factors,
Including Volatile WTI Crude Oil Prices,” 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 may influence the market value of the ETNs. Barclays Bank PLC believes that
the limitations on issuance and sale implemented 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 you sell your ETNs at a time when such
premium is no longer present in the marketplace or if we redeem the ETNs at our discretion. Investors should consult their financial advisors
before purchasing or selling the ETNs, especially ETNs trading at a premium over their indicative value. Furthermore, if you sell your
ETNs at a price which reflects a discount below the intraday indicative value, you may experience a significant loss.
You may lose all or a substantial portion
of your investment within a single day if you invest in the ETNs. Any payment on the ETNs at or prior to maturity, including any repayment
of principal, is not guaranteed by any third party and is subject to the creditworthiness of Barclays Bank PLC. See “Risk
Factors” beginning on page PS-12 of the Pricing Supplement for risks relating to an investment in the ETNs.
The ETNs may not be suitable for all investors
and should be used only by investors with the sophistication and knowledge necessary to understand the risks inherent in the Index, the
futures contracts that the Index tracks and investments in WTI crude oil as an asset class generally. Investors should consult with their
broker or financial advisor when making an investment decision and to evaluate their investment in the ETNs and should actively manage
and monitor their investments in the ETNs throughout each trading day.
The ETNs are not deposit liabilities of Barclays
Bank PLC and are not insured by the United States Federal Deposit Insurance Corporation or any other governmental agency of the United
States, the United Kingdom or any other jurisdiction.
Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these ETNs or determined that this amendment No. 1 or the Pricing Supplement
is truthful or complete. Any representation to the contrary is a criminal offense.
Amendment No. 1 dated March 14, 2022 to the
Pricing Supplement dated March 3, 2022
You should read
this amendment No. 1 and the Pricing Supplement together with the prospectus dated August 1, 2019, as supplemented by the prospectus supplement
dated August 1, 2019 relating to our Global Medium-Term Notes, Series A, of which these ETNs are a part, and the prospectus supplement
addendum dated February 18, 2021. You may access these documents on the SEC website at www.sec.gov as follows (or if such address has
changed, by reviewing our filings for the relevant date on the SEC website):
| · | Prospectus dated August 1, 2019: |
http://www.sec.gov/Archives/edgar/data/312070/000119312519210880/d756086d424b3.htm
| · | Prospectus Supplement dated August 1, 2019: |
http://www.sec.gov/Archives/edgar/data/312070/000095010319010190/dp110493_424b2-prosupp.htm
| · | Prospectus Supplement Addendum dated February 18, 2021: |
http://www.sec.gov/Archives/edgar/data/312070/000095010321002483/dp146316_424b3.htm
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