Barclays Bank PLC (“Barclays”) is issuing a reminder notice today that the iPath Shiller CAPE ETNs are scheduled to mature on October 12, 2022 (the “maturity date”). The ETNs currently trade on the NYSE Arca exchange under the ticker symbol “CAPD”. On the maturity date, Barclays will pay to holders a cash payment per ETN equal to the closing indicative value (as defined in the pricing supplement relating to the ETNs) on October 4, 2022, the final valuation date. Following their maturity, the ETNs will cease to be outstanding and no further payments will be due on the ETNs
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Until the close of trading on October 11th, 2022, holders can continue to sell their ETNs on the secondary market at the prevailing trading price on the exchange. In addition, holders can continue to redeem their ETNs to Barclays under the holder redemption option until the valuation date immediately prior to the final valuation date specified in the pricing supplement relating to the ETNs.
Barclays is also announcing, effective as of the open of trading on August 15th, 2022, a waiver of the minimum holder redemption size of 25,000 ETNs, which will be in effect until the maturity of the ETNs. Any redemption of ETNs is subject to the other conditions described in the pricing supplement for the ETNs and will be valued using the applicable closing indicative value on the valuation date for the transaction. In addition, Barclays will accept holder redemptions where, at the election of the holder, the applicable valuation date for such holder redemption is the same date as that of the holder redemption notice, if such notice is delivered to Barclays no later than 2:00 pm Eastern time on such valuation date. If not specified, the applicable valuation date for a holder redemption will be the first valuation date after the date on which the notice of holder redemption is delivered, in accordance with the procedures set forth in the prospectus relating to the ETNs.
For investors who may wish to invest in an exchange-traded fund (ETF) that offers exposure to a sector-based strategy based on the Shiller Barclays CAPE US Sector TR Index, DoubleLine Capital (“DoubleLine”) has launched the DoubleLine Shiller CAPE® U.S. Equities ETF (the “CAPE ETF”). The CAPE ETF trades on the NYSE Arca exchange under the ticker symbol “CAPE”. Investors may access further information regarding the CAPE ETF on DoubleLine’s website at https://doublelinefunds.com/shiller-cape-u-s-equities-etf/ or by contacting DoubleLine at ETFCapitalMarkets@DoubleLine.com or +1 213 633 8446. Please refer to the information under “Important Disclaimers” below regarding the CAPE ETF.
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An investment in the ETNs involves significant risks and may not be suitable for all investors. The ETNs are riskier than ordinary unsecured debt securities and do not benefit from any principal protection. For more information on risks associated with the ETNs, please see “Selected Risk Considerations” below and the risk factors included in the relevant pricing supplement.
Barclays Bank is the issuer of the ETNs and Barclays Capital Inc. is the issuer’s agent in the distribution. Please contact Barclays Bank for further questions:
- Financial advisors: Directly contact Barclays Bank at etndesk@barclays.com or 1-212-528-7990 to obtain further information.
- Individual investors: Instruct your broker/advisor/custodian to email us at etndesk@barclays.com or to call us at: 1-212-528-7990. You may call in together with your broker/advisor/custodian or have them speak to us on your behalf.
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