Barclays Bank PLC (BCS) to Commence Rescission Offer

Further to its announcements on 28 March 2022 and 23 May 2022, BBPLC today makes the following announcement:

The Rescission Offer

BBPLC expects to offer to rescind the previous purchases of c.U.S.$17.6 billion of certain affected securities that were issued in excess of registered amounts under BBPLC’s U.S. shelf registration statements. Such securities consist of c.U.S.$14.8 billion of structured notes and c.U.S.$2.8 billion of exchange-traded notes.

The proposed rescission offer is expected to be made pursuant to a prospectus supplement under BBPLC’s shelf registration statement on Form F-3 filed with the SEC on 23 May 2022.

The terms of the proposed rescission offer, including a description of the relevant affected securities, the eligibility requirements for investors to accept the proposed rescission offer, and the rescission offer proceeds that are expected to be paid to eligible investors, will be set forth in the prospectus supplement. A summary of the expected key terms of the proposed rescission offer is included in the Annex to this announcement.

Securities subject to the Rescission Offer

A list of the CUSIPs of the relevant affected securities that will be subject to the proposed rescission offer can be accessed at https://communications.global.barclays/content/dam/communications-global-barclays/pdf/2022/06/ldnc047433a/Subject_Security_List.pdf.

Timing for the Commencement of the Rescission Offer

BBPLC expects to commence the proposed rescission offer on 1 August 2022. The proposed rescission offer will be open for a period of 30 U.S. business days and expire at 5.00 p.m., Eastern Daylight Time, on 12 September 2022.

You May Also Be Interested In

• Leifras to acquire Swift Japan childcare operator for ¥454.6 million
• Smart Digital Group faces Nasdaq delisting after SEC trading suspension
• Worthington Enterprises raises dividend 5%, adds board member