Barclays plans series B iPath ETNs linked to S&P GSCI Crude Oil index

By Angela McDaniels

Tacoma, Wash., Nov. 15 – Barclays Bank plc plans to price 0% iPath Series B S&P GSCI Crude Oil exchange-traded notes linked to the S&P GSCI Crude Oil Total Return index, according to a 424B2 filing with the Securities and Exchange Commission.

The index is a sub-index of the S&P GSCI Commodity index and reflects the excess returns that are potentially available through an unleveraged investment in the commodities futures contracts comprising the index plus the Treasury bill rate of interest that could be earned on funds committed to the trading of the underlying futures contracts.

The payout at maturity will be an amount in cash equal to the closing indicative value on the final valuation date.

The closing indicative value will be $50 on the initial valuation date. On each subsequent calendar day, it will equal the closing indicative value on the immediately preceding calendar day times the daily index factor on that calendar day (or, if that day is not an index business day, one) minus the investor fee on that calendar day.

The daily index factor is the closing level of the index on that business day divided by the closing level of the index on the immediately preceding business day.

The investor fee on the initial valuation date will equal zero. On each subsequent calendar day, it will be equal to (1) 0.45% times (2) the closing indicative value on the immediately preceding calendar day times (3) the daily index factor on that day (or, if such day is not an index business day, one) divided by (4) 365.

The notes will be putable at any time, subject to a minimum of 50,000 securities, and they will be callable at any time. The payout in either case would be equal to the closing indicative value on the applicable valuation date.

The issuer expects to list the notes on the NYSE Arca under the symbol "OILB."

Barclays is the agent.

The Cusip number is 06745R693.

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