The Barclays ETN+ Select MLP ETN (the "ETNs") are linked to the performance of the Volume-Weighting Average Price ("VWAP") level of the CIBC Atlas Select MLP Index (the Index). The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. The ETNs are unsecured debt obligations of the issuer, Barclays Bank PLC, and are not, either directly or indirectly, an obligation of or guaranteed by any third party. Any payment to be made on the ETNs, including any payment at maturity or upon redemption, depends on the ability of Barclays Bank PLC to satisfy its obligations as they come due. The ETNs are exposed to any decrease in the VWAP level of the Index between the inception date and the applicable valuation date. An investment in the ETNs involves significant risks, including possible loss of principal, and may not be suitable for all investors.
The Index is designed to provide exposure to a basket of midstream U.S. and Canadian master limited partnerships, limited liability companies and corporations (collectively, the "Index Constituents") that trade on major U.S. exchanges, are classified in the GICS®Energy Sector or GICS® Gas Utilities Industry according to the Global Industry Classification Standard® ("GICS") and meet certain eligibility criteria, including long-term credit rating, the portion of cash flow driven by mid-stream operations and size as measured by free-float market capitalization and average daily trading value. Owning the ETNs is not the same as owning interests in the Index Constituents or a security directly linked to the performance of the Index. Owning the ETNs is not the same as owning interest in the Index Constituents or a security directly linked to the performance of the Index. For more information on the risks associated with the ETNs, please see "Selected Risk Considerations" below and the risk factors included in the relevant prospectus.
|The weights of the Index Constituents as of November 30, 2018 are reported in the table below|
|Ticker||Index Constituent||Target Weight (%)|
|PAA||Plains All American Pipeline LP||8.11%|
|MMP||Magellan Midstream Partners||8.1%|
|EPD||Enterprise Product Partners LP||7.94%|
|KMI||Kinder Morgan Inc||4.16%|
|WMB||The Williams Companies Inc||4.08%|
|ET||Energy Transfer Operating LP||3.69%|
|BPL||Buckeye Partners LP||3.67%|
|EQM||EQM Midstream Partners, LP||3.59%|
|WES||Western Gas Partners LP||3.53%|
|ANDX||Andeavor Logistics LP||2.85%|
|PAGP||Plains GP Holdings LP||2.72%|
|TGE||Tallgrass Energy LP A||2.63%|
|SEP||Spectra Energy Partners LP||2.45%|
|PSXP||Phillips 66 Partners LP||2.09%|
|EEP||Enbridge Energy Partners LP||1.95%|
|ENLK||EnLink Midstream Partners LP||1.77%|
|AM||Antero Midstream Partners LP||1.74%|
|TCP||TC Pipelines LP||1.39%|
|WGP||Western Gas Equity Partners LP||1.07%|
|ENBL||Enable Midstream Partners LP||1.01%|
|AMGP||Antero Midstream GP LP||0.9%|
|VLP||Valero Energy Partners LP||0.76%|
|ENLC||Enlink Midstream LLC||0.61%|
|Source: Barclays Bank PLC , as of: November 30, 2018|
|Selected Risk Considerations|
An investment in the Barclays ETNs described herein (the "ETNs") involves significant risks, including possible loss of principal, and may not be suitable for all investors. Selected risks are summarized here, but we urge you to read the more detailed explanation of risks described under "Risk Factors" in the applicable prospectus supplement and pricing supplement.?
You May Lose Some or All of Your Principal:? The ETNs are exposed to any decrease in the Volume Weighted Average Price ("VWAP") level between the inception date and the applicable valuation date.? Additionally, if the VWAP level is insufficient to offset the negative effect of the investor fee and other applicable costs, you will lose some or all of your investment at maturity or upon redemption, even if the VWAP value has increased.? Because the ETNs are subject to an investor fee and any other applicable costs, the return on the ETNs will always be lower than the total return on a direct investment in the index components.? The ETNs are riskier than ordinary unsecured debt securities and have no principal protection.
Credit of Barclays Bank PLC:? The ETNs are unsecured debt obligations of the issuer, Barclays Bank PLC, and are not, either directly or indirectly, an obligation of or guaranteed by any third party.? Any payment to be made on the ETNs, including any payment at maturity or upon redemption, depends on the ability of Barclays Bank PLC to satisfy its obligations as they come due.? As a result, the actual and perceived creditworthiness of Barclays Bank PLC will affect the market value, if any, of the ETNs prior to maturity or redemption.? In addition, in the event Barclays Bank PLC were to default on its obligations, you may not receive any amounts owed to you under the terms of the ETNs.
Issuer Redemption:? Barclays Bank PLC has the right to redeem or call the ETNs (in whole but not in part) at our sole discretion without your consent on any business day on or after the inception date until and including maturity.
The Payment on the ETNs is Linked to the VWAP Level, Not to the Closing Level of the Index and Not to the Published Intraday Indicative Value of the ETNs:? Your payment at maturity or upon early redemption is linked to the performance of the VWAP level, as compared to the initial VWAP level.? Although the VWAP level is intended to track the performance of the Index, the calculation of the VWAP level is different from the calculation of the official closing level of the Index.? Therefore, the payment at maturity or early redemption of your ETNs, may be different from the payment you would receive if such payment were determined by reference to the official closing level of the Index.?
No Guaranteed Coupon Payments:? You are not guaranteed to receive coupon payments on the ETNs.? You will receive a coupon payment on a coupon payment date only to the extent that the accrued dividend exceeds the accrued investor fee on the relevant coupon valuation date.? The amount of the accrued dividend on any coupon valuation date depends in part on the aggregate cash value of distributions that a reference holder would have been entitled to receive in respect of the index constituents prior to the relevant coupon valuation date.
Market and Volatility Risk:? The return on the ETNs is linked to the performance of the VWAP level of the Index which, in turn, is linked to the performance of the master limited partnerships and other securities that are included as index constituents at any time.? The prices of the index constituents may change unpredictably and, as a result, affect the level of the Index and the value of your ETNs in unforeseeable ways.
Concentration Risk:? The index constituents are companies in the Energy Sector or Gas Utilities Sector, as determined by the GICS® classification system.? In addition, many of the index constituents are smaller, non-diversified businesses that are exposed to the risks associated with such businesses, including the lack of capital funding to sustain or grow businesses and potential competition from larger, better financed and more diversified businesses.? The ETNs are susceptible to general market fluctuations in the energy and gas MLP market and to volatile increases and decreases in value, as market confidence in, and perceptions regarding the index constituents change.? Your investment may therefore carry risks similar to a concentrated securities investment in one industry or sector.?
A Trading Market for the ETNs May Not Develop:? Although the ETNs are listed on a U.S. national securities exchange, a trading market for the ETNs may not develop at any time and the liquidity of the ETNs may be limited, as we are not required to maintain any listing of the ETNs.
Restrictions on the Minimum Number of ETNs and Date Restrictions for Redemptions:? You must redeem at least 50,000 ETNs at one time in order to exercise your right to redeem your ETNs on any redemption date.? You may only redeem your ETNs on a redemption date if we receive a notice of redemption from you by certain dates and times as set forth in the pricing supplement.
Uncertain Tax Treatment: Significant aspects of the tax treatment of the ETNs are uncertain. You should consult your own tax advisor about your own tax situation.
The ETNs may be sold throughout the day on the exchange through any brokerage account. Commissions may apply and there are tax consequences in the event of sale, redemption or maturity of ETNs.
CIBC Atlas Select MLP Index is a trademark of Barclays Bank PLC.
© 2018 Barclays Bank PLC.? All rights reserved.? All other trademarks, servicemarks or registered trademarks are the property, and used with the permission of, their respective owners.
NOT FDIC INSURED - NO BANK GUARANTEE - MAY LOSE VALUE