TIDM78MM
RNS Number : 4658U
Barclays Bank PLC
01 August 2022
1 August 2022
Barclays Bank PLC
("BBPLC")
BBPLC Commences Rescission Offer
-- BBPLC has today commenced a rescission offer to eligible
purchasers of c.U.S.$17.6 billion of relevant securities issued in
excess of registered amounts for a period of 30 U.S. business
days
-- The terms of the rescission offer are set forth in a
prospectus supplement filed today with the U.S. Securities and
Exchange Commission (the "SEC")
Further to its announcements on 28 March 2022, 23 May 2022 and
25 July 2022, BBPLC today makes the following announcement:
Rescission Offer Commenced
BBPLC commenced today an 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 rescission offer is made pursuant to a prospectus supplement
filed with the SEC today under BBPLC's shelf registration statement
on Form F-3 filed with the SEC on 23 May 2022. The rescission offer
prospectus supplement can be accessed on the SEC's website at:
https://www.sec.gov/Archives/edgar/data/312070/000119312522207620/d386666d424b5.htm
The terms of the rescission offer, including a description of
the relevant affected securities, the eligibility requirements for
investors to accept the rescission offer, and the rescission offer
proceeds that are expected to be paid to eligible investors, are
set forth in such prospectus supplement.
The indicative rescission offer proceeds that are expected to be
paid to initial investors in structured notes, a subset of the
securities subject to the rescission offer, are included in an
appendix to the rescission offer prospectus supplement . Such
calculations are based on a number of assumptions and the final
amount of rescission offer proceeds received by initial investors
in structured notes may be different. Please refer to the
rescission offer prospectus supplement filed with the SEC today for
more details regarding the calculation of such indicative
rescission offer proceeds.
Securities subject to the Rescission Offer
The relevant affected securities subject to the rescission offer
are listed and described in Appendix A to the rescission offer
prospectus supplement.
Duration and Results of the Rescission Offer
The rescission offer will expire at 5.00 p.m., Eastern Daylight
Time, on 12 September 2022.
BBPLC will endeavour to publish the results of the rescission
offer (including details of the final rescission offer proceeds
that will be paid to initial investors in structured notes) as soon
as practicable following the expiration date of the rescission
offer.
- ENDS -
For further information, please contact:
Investor Relations Media Relations
Chris Manners Jon Tracey
+44 (0) 20 7773 2136 +44 (0) 20 7116 4755
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the U.S. Securities Exchange Act of 1934,
as amended, and Section 27A of the U.S. Securities Act of 1933, as
amended, with respect to BBPLC. BBPLC cautions readers that no
forward-looking statement is a guarantee of future performance and
that actual results or other financial condition or performance
measures could differ materially from those contained in the
forward-looking statements. These forward-looking statements can be
identified by the fact that they do not relate only to historical
or current facts. Forward-looking statements sometimes use words
such as 'may', 'will', 'seek', 'continue', 'aim', 'anticipate',
'target', 'projected', 'expect', 'estimate', 'intend', 'plan',
'goal', 'believe', 'achieve' or other words of similar meaning.
These statements are based on the current beliefs and expectations
of BBPLC's management and are subject to significant risks and
uncertainties. Actual outcomes may differ materially from those
expressed in the forward-looking statements. Factors that could
impact BBPLC's future financial condition and performance are
identified in BBPLC's filings with the SEC (including, without
limitation, BBPLC's Annual Report on Form 20-F for the financial
year ended 31 December 2021, as amended, and Interim Results
Announcement for the six months ended 30 June 2022, which are
available on the SEC's website at www.sec.gov).
Subject to BBPLC's obligations under the applicable laws and
regulations of any relevant jurisdiction, (including, without
limitation, the UK and the U.S.), in relation to disclosure and
ongoing information, we undertake no obligation to update publicly
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
BBPLC has filed a registration statement (including a base
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the base
prospectus for this offering in that registration statement, the
rescission offer prospectus supplement and other documents BBPLC
has filed with the SEC for more complete information about BBPLC
and this offering. You may get these documents for free by
searching the SEC online database (EDGAR) at www.sec.gov.
Alternatively, you may obtain a copy of the base prospectus from
BBPLC by calling toll-free 1-888-227-2275 (extension 7-7990).
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END
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