Business: iPath GEMS Index ETN, formerly the Barclays GEMS Index Exchange Traded Notes (ETN), due on February 4, 2038 is issued by Barclays Bank PLC and is part of the Series A, Global Medium-Term Notes. INVESTMENT OBJECTIVE: Barclays GEMS Index ETN tracks the total return of the Barclays Capital GEMS Index and is designed to pay a monthly coupon representing the implied yield on the index, net of fees. INDEX DESCRIPTION: The Barclays Capital Global Emerging Markets Strategy (GEMS) Index is based on investing in 1-month synthetic money market deposits. The Index provide investors with exposure to local currencies in emerging markets through short-term, liquid and diversified instruments. The Index is intended to replicate a diversified, multi-national money markets strategy by reflecting the total return including both exchange rate movements and implied local deposit rates of U.S. dollar investments in the 15 emerging market currencies that the Index comprises. The Index is rebalanced annually in July so that each Index constituent currency is equally weighted in US dollar terms. The Index currency weights are free floating between annual rebalancings. RETURNS AND MATURITY: The return on the Securities may be positive or negative, and is directly linked to the performance of the Index, which is based on a variety of market and economic factors, interest rates in the markets and economic, financial, political, regulatory, judicial or other events that affect the markets generally. If you hold your Securities to maturity, February 4, 2038, you will receive a cash payment per Security equal to the closing indicative value on the final valuation date. REDEMPTION AND FEES: You may redeem your Securities on any redemption date during the term of the Securities. If you redeem your Securities, you will receive a cash payment per Security equal to the closing indicative value on the applicable valuation date. Issued in denominations of $50.00 you must redeem at least 50,000 Securities at one time and agree to the redemption procedures in order to exercise your right to redeem your Securities on any redemption date. Investore Fee is 0.89% per annum accrued on a daily basis. For calculations of fees and further information on this ETN click on the Link to IPO Prospectus provided.