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Security Profile
- Security Type
- Common Stock
- CUSIP
- 06738C760 (prev. 06738C786 )
- Market Cap
- Micro Cap · $34 Million
- IPO
- 8/15/2006 · $50.00/share
- Previous Symbol
- OIL (changed 4/12/2018)
- Parent Company
- Barclays Bank plc ADR (BCS)
Business: iPath S&P GSCI Crude Oil Total Return Index Exchange Traded Note (ETN) due August 14, 2036 is issued by Barclays Bank PLC and is part of the Series A, Global Medium-Term Notes. INVESTMENT OBJECTIVE: The Barclays iPath S&P GSCI Crude Oil TR Index ETN is a sub-index of the S&P GSCI Commodity Index and is designed to provide investors with cost-effective exposure to crude oil measured by the S&P GSCI Crude Oil Total Return Index (the Index). INDEX DESCRIPTION: The iPath S&P GSCI Crude Oil Total Return Index reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract plus the Treasury Bill rate of interest that could be earned on funds committed to the trading of the underlying contracts. 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, August 14, 2036, you will receive a cash payment per ETN equal to the applicable closing indicative value on the applicable final valuation date, minus the investor fees 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 in an amount equal to the daily redemption value, which is (1) the principal amount of your Securities times (2) the index factor on the applicable valuation date minus (3) the investor fee 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. The investor fee is equal to 0.75% per annum accrued on a daily basis. For calculations of fees and any further information on this ETN click on the Link to IPO Prospectus provided.
Notes: June 4, 2020 -- Barclays Bank PLC (“Barclays”) announced today a new redemption option for holders of the iPath® S&P GSCI® Crude Oil Total Return Index ETN (Ticker: OILNF) (the “OILNF ETNs”). The OILNF ETNs were de-listed from NYSE Arca on April 12, 2018 and currently trade in over-the-counter markets (the “OTC Markets”). Holders of the OILNF ETNs can now put and simultaneously purchase an equivalent amount of the iPath® Pure Beta Crude Oil Exchange Traded Notes (Ticker: OLEM)(the “OLEM ETNs”) from Barclays in an amount having an equal dollar value, with each transaction having the same valuation date and settlement date (a “Net Settlement”). In this case, upon redemption of the OILNF ETNs, holders would receive a number of OLEM ETNs equal to the aggregate daily redemption value of the redeemed OILNF ETNs, rounded to the nearest full OLEM ETN, with a residual cash payment for any “partial” remaining ETNs. <p>April 17, 2020 -- Barclays announced today that it will implement a 1 for 40 reverse split of its iPath® S&P GSCI® Crude Oil Total Return Index ETN (the “ETN”), which it intends to be effective at the open of trading on Friday, May 1, 2020
Company Contact
- Headquarters
- 200 Park Avenue, New York, NY 10166
- Phone
- 212-412-4000 · Toll-Free 877-764-7284
- Fax
- 212-412-7300
- Investor Relations
- 212-412-4000 · etndesk@barclays.com