Barclays Launches IPath® Series B S&P GSCI® Crude Oil ETN

Barclays Bank PLC ("Barclays") announced today the launch of the iPath ® Series B S&P GSCI ® Crude Oil ETNs ("New ETNs") on the NYSE Arca exchange under the ticker symbol OILB. The New ETNs are designed to provide investors with exposure to the performance of the S&P GSCI ® Crude Oil Total Return Index ("the Index"). The Index is a sub-index of the S&P GSCI ® Commodity Index and reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract.

The New ETNs feature an investor fee calculated and subtracted from the closing indicative value of the ETNs on a daily basis at a rate of 0.45% per annum. The New ETNs will also be redeemable at the sole discretion of Barclays on any trading day on or after their inception until maturity.

Barclays has also announced that effective after the close of trading November 18, 2016 it will suspend, until further notice, any further sales from inventory and any further issuances of iPath ® S&P GSCI ® Crude Oil Total Return Index ETNs ("Old ETNs" and, together with the New ETNs, the "ETNs"), which are listed on the NYSE Arca exchange under the ticker symbol OIL. Additionally, for a limited period of time, Barclays will waive the minimum early redemption size of 50,000 Old ETNs with respect to the valuation date occurring on each Wednesday (or, if such calendar day is not a trading day, the trading day immediately thereafter). Please refer to the associated press release for more details on these actions taken with respect to the Old ETNs.

Holders of the Old ETNs that wish to sell their Old ETNs and/or purchase New ETNs may take any of the following actions:

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