Document:

Exhibit 4.2

 

(Face of Certificate)

 

THIS SECURITY (THIS “CERTIFICATE”)
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS CERTIFICATE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A CERTIFICATE REGISTERED, AND NO TRANSFER OF
THIS CERTIFICATE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF,
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO BARCLAYS
BANK PLC, OR ITS AGENT, FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
 & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

 

THE EXERCISE OF ANY U.K.
BAIL-IN POWER BY THE RELEVANT U.K. RESOLUTION AUTHORITY MAY RESULT IN (I) THE REDUCTION OR CANCELLATION OF ALL, OR A PORTION, OF
THE PRINCIPAL AMOUNT OF, OR INTEREST ON, OR ANY OTHER AMOUNTS PAYABLE ON, THE SECURITIES EVIDENCED BY THIS CERTIFICATE (THE “SECURITIES”);
(II) THE CONVERSION OF ALL, OR A PORTION OF, THE PRINCIPAL AMOUNT OF, INTEREST ON, OR ANY OTHER AMOUNTS PAYABLE ON, THE SECURITIES
INTO SHARES OR OTHER SECURITIES OR OTHER OBLIGATIONS OF BARCLAYS BANK PLC OR ANOTHER PERSON (AND THE ISSUE TO, OR CONFERRAL ON,
THE HOLDER OR BENEFICIAL OWNER OF THE SECURITIES SUCH SHARES, SECURITIES OR OBLIGATIONS); AND/OR (III) THE AMENDMENT OR ALTERATION
OF THE MATURITY OF THE SECURITIES, OR AMENDMENT OF THE AMOUNT OF INTEREST OR ANY OTHER AMOUNTS DUE ON THE SECURITIES, OR THE DATES
ON WHICH INTEREST OR ANY OTHER AMOUNTS BECOME PAYABLE, INCLUDING BY SUSPENDING PAYMENT FOR A TEMPORARY PERIOD; WHICH U.K. BAIL-IN
POWER MAY BE EXERCISED BY MEANS OF A VARIATION OF THE TERMS OF THE SECURITIES SOLELY TO GIVE EFFECT TO THE EXERCISE BY THE RELEVANT
U.K. RESOLUTION AUTHORITY OF SUCH U.K. BAIL-IN POWER. THE RIGHTS OF HOLDERS AND BENEFICIAL OWNERS OF THE SECURITIES ARE SUBJECT
TO, AND WILL BE VARIED, IF NECESSARY, SOLELY TO GIVE EFFECT TO, THE EXERCISE OF ANY U.K. BAIL-IN POWER BY THE RELEVANT U.K. RESOLUTION
AUTHORITY.

 

(Face
of Certificate continued on next page)

 

     

     

    

 

	Date: February 7, 2020	CUSIP No.: 06747F119
	No. 1	ISIN: US06747F1194

 

BARCLAYS
BANK PLC

 

Global MEDIUM-TERM
NOTES, SERIES A

 

____________________

 

iPath®
Series B US Treasury 10-year Bear Exchange-Traded Notes

 

Aggregate
Face Amount: $500,000,000

 

Reference
is hereby made to the terms and conditions of the Securities set forth in (i) the Pricing Supplement related to the Securities,
dated February 4, 2020 (the “Pricing Supplement”) and (ii) the sections of the Prospectus Supplement, dated
August 1, 2019 (the “Prospectus Supplement”), entitled “U.K. Bail-in Power,” “Terms of the
Notes,” “Interest Mechanics” and “Reference Assets” (such terms and conditions of the Securities
set forth in the Pricing Supplement and such sections of the Prospectus Supplement, the “Incorporated Terms and Conditions”).
The Incorporated Terms and Conditions are hereby incorporated by reference into this Certificate and are binding upon the parties
hereto.

 

Barclays
Bank PLC, a public limited company duly organized and existing under the laws of England and Wales (herein called the “Company,”
which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay
(or cause to be paid) to Cede & Co., as nominee for The Depository Trust Company, or its registered assigns, the amounts due,
if any, on the Securities, whether in cash, securities or other property, together with unpaid accrued interest thereon, in each
case as specified in the Incorporated Terms and Conditions, on the date or dates specified in the Incorporated Terms and Conditions.

 

Any
payment on the Securities, including any repayment of principal, will be subject to provisions relating to the U.K. Bail-in Power
(as defined in the Prospectus Supplement) set forth under “Agreement with Respect to the Exercise of U.K. Bail-in Power”
on the reverse of this Certificate. Any return on the Securities that may be deemed to be interest will in no event be higher than
the maximum rate permitted by New York law, as it may be modified by U.S. law of general application.

 

Reference
is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

 

Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature,
the Securities shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

Unless
otherwise noted, all terms used in this Certificate that are not defined in this Certificate but are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

 

(Face
of Certificate continued on next page)

 

    -2-

     

    

 

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed as of the date first set forth above.

 

	 	BARCLAYS BANK PLC
	 	 	 
	 	By:	 
	 	 	Name:	                     
	 	 	Title:	 

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

This
is one of the Securities of the series designated herein and referred to in the Indenture.

 

	 	THE BANK OF NEW YORK MELLON
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

    

     

    

 

(Reverse of Certificate)

 

The
Securities are part of a duly authorized issue of securities of the Company issued and to be issued in one or more series under
an Indenture, dated as of September 16, 2004 (herein called the “Indenture,” which term shall have the meaning
assigned to it in the Indenture), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee,”
which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. Insofar as the provisions
of the Indenture may conflict with the provisions set forth on the face of this Certificate, the latter shall control for purposes
of the Securities.

 

The
Securities are part of the series designated on the face hereof. References herein to “this series” mean the series
designated on the face hereof.

 

Payments
under the Securities will be made without deduction or withholding for, or on account of, any and all present or future income,
stamp and other taxes, levies, imposts, duties, charges, fees, deductions or withholdings now or hereafter imposed, levied, collected,
withheld or assessed by or on behalf of the United Kingdom or any political subdivision or authority thereof or therein having
the power to tax, unless such deduction or withholding is required by law.

 

Agreement with Respect to the Exercise
of U.K. Bail-in Power

 

Notwithstanding
any other agreements, arrangements, or understandings between the Company and any Holder or beneficial owner of the Securities,
by acquiring the Securities, each Holder and beneficial owner of the Securities acknowledges, accepts, agrees to be bound by and
consents to the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority (as defined in the Prospectus Supplement)
that may result in (i) the reduction or cancellation of all, or a portion, of the principal amount of, interest on, or any other
amounts payable on, the Securities; (ii) the conversion of all, or a portion of, the principal amount of, interest on, or any other
amounts payable on, the Securities into shares or other securities or other obligations of the Company or another person (and the
issue to, or conferral on, the Holder of the Securities such shares, securities or obligations); and/or (iii) the amendment or
alteration of the maturity of the Securities, or amendment of the amount of interest or any other amounts due on the Securities,
or the dates on which interest or any other amounts become payable, including by suspending payment for a temporary period; which
U.K. Bail-in Power may be exercised by means of a variation of the terms of the Securities solely to give effect to the exercise
by the Relevant U.K. Resolution Authority of such U.K. Bail-in Power. Each Holder and beneficial owner of the Securities further
acknowledges and agrees that the rights of Holders and beneficial owners of the Securities are subject to, and will be varied,
if necessary, solely to give effect to, the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority. For the
avoidance of doubt, this consent and acknowledgment is not a waiver of any rights Holders and beneficial owners of the Securities
may have at law if and to the extent that any U.K. Bail-in Power is exercised by the Relevant U.K. Resolution Authority in breach
of laws applicable in England.

 

To
the extent the terms of the Securities, as specified above, provide for the delivery of property, any reference in this Security
to payment by the Company under the Securities shall be deemed to include delivery of property, as applicable.

 

    -4-

     

    

 

By
its acquisition of the Securities, each Holder and beneficial owner (i) acknowledges and agrees that the exercise of the U.K.
Bail-in Power by the Relevant U.K. Resolution Authority with respect to the Securities shall not give rise to a default for
purposes of Section 315(b) (Notice of Default) and Section 315(c) (Duties of the Trustee in Case of Default) of the Trust
Indenture Act, (ii) to the extent permitted by the Trust Indenture Act, waives any and all claims against the Trustee for,
agrees not to initiate a suit against the Trustee in respect of, and agrees that the Trustee shall not be liable for, any
action that the Trustee takes, or abstains from taking, in either case in accordance with the exercise of the U.K. Bail-in
Power by the Relevant U.K. Resolution Authority with respect to the Securities, (iii) acknowledges and agrees that, upon the
exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority, (a) the Trustee shall not be required to take
any further directions from Holders or beneficial owners of the Securities under Section 5.12 of the Indenture and (b) the
Indenture shall impose no duties upon the Trustee whatsoever with respect to the exercise of any U.K. Bail-in Power by the
Relevant U.K. Resolution Authority (notwithstanding the foregoing in this clause (iii), if, following the completion of the
exercise of the U.K. Bail-in Power by the Relevant U.K. Resolution Authority in respect of the Securities, the Securities
remain outstanding, then the Trustee’s duties under the Indenture shall remain applicable with respect to the
Securities following such completion to the extent that the Company and the Trustee shall agree pursuant to a supplemental
indenture), and (iv) shall be deemed to have (a) consented to the exercise of any U.K. Bail-in Power as it may be imposed
without any prior notice by the Relevant U.K. Resolution Authority of its decision to exercise such power with respect to the
Securities and (b) authorized, directed and requested DTC and any direct participant in DTC or other intermediary through
which it holds such Securities to take any and all necessary action, if required, to implement the exercise of any U.K.
Bail-in Power with respect to the Securities as it may be imposed, without any further action or direction on the part of
such Holder and such beneficial owner or the Trustee.

 

No
repayment of the principal amount of the Securities or payment of interest on, or any other amount payable on, the Securities shall
become due and payable after the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority unless such repayment
or payment would be permitted to be made by the Company under the laws and regulations of the United Kingdom and the European Union
applicable to the Company.

 

To
the extent the terms of the Securities, as specified above, provide for an optional call, automatic call or redemption at the Holder’s
option, and the Company has elected or is required to redeem the Securities, or if the Holder has exercised an option to require
the Company to repurchase the Securities, but, in each case, prior to the payment of the redemption or repurchase amount with respect
to such redemption or repurchase, the Relevant U.K. Resolution Authority exercises its U.K. Bail-in Power in respect of the Securities,
the relevant redemption or repurchase notice, if any, shall be automatically rescinded and shall be of no force and effect, and
no payment in respect of the redemption or repurchase amount shall be due and payable. If the event specified in the preceding
sentence occurs, the Company shall promptly deliver notice to the Holders of the Securities via DTC and to the Trustee directly,
specifying the occurrence of the relevant event.

 

Each
Holder and beneficial owner that acquires its Securities in the secondary market shall be deemed to acknowledge and agree to be
bound by and consent to the same provisions specified in the Securities to the same extent as the Holders and beneficial owners
of the Securities that acquire the Securities upon their initial issuance, including, without limitation, with respect to the acknowledgement
and agreement to be bound by and consent to the terms of the Securities, including in relation to the U.K. Bail-in Power.

 

Upon
the exercise of the U.K. Bail-in Power by the Relevant U.K. Resolution Authority with respect to the Securities, the Company shall
provide a written notice to DTC as soon as practicable regarding such exercise of the U.K. Bail-in Power for purposes of notifying
Holders and beneficial owners of such occurrence. The Company shall also deliver a copy of such notice to the Trustee for information
purposes.

 

The
Company’s obligations to indemnify the Trustee in accordance with Section 6.07 of the Indenture shall survive any exercise
of the U.K. Bail-in Power by the Relevant U.K. Resolution Authority with respect to the Securities.

 

    -5-

     

    

 

The
exercise of the U.K. Bail-in Power by the Relevant U.K. Resolution Authority with respect to the Securities shall not constitute
a default or an Event of Default under the Indenture (as each term is defined therein).

 

All
authority conferred or agreed to be conferred by each Holder and beneficial owner pursuant to this Security, including the consents
given by such Holder and beneficial owner, shall be binding upon the successors, assigns, heirs, executors, administrators, trustees
in bankruptcy and legal representatives of such Holder and beneficial owner.

 

Other Terms of the Securities

 

The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by
the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding
of all series to be affected (considered together as one class for this purpose). The Indenture also contains provisions (i) permitting
the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of all series to be affected
under the Indenture (considered together as one class for this purpose), on behalf of the Holders of all Securities of such series,
to waive compliance by the Company with certain provisions of the Indenture and (ii) permitting the Holders of a majority
in aggregate principal amount of the Securities at the time Outstanding of any series to be affected under the Indenture (with
each such series considered separately for this purpose), on behalf of the Holders of all Securities of such series, to waive certain
past defaults under the Indenture and their consequences. Any such consent or waiver by Holders of the Securities shall be conclusive
and binding upon such Holders and upon all future Holders of the Securities and of any Securities issued upon the registration
of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon the
Securities.

 

As
provided in and subject to the provisions of the Indenture, the Holder of this Certificate shall not have any right to institute
any proceeding, judicial or otherwise, with respect to the Indenture or for the appointment of a receiver or trustee or for any
other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default
with respect to the Securities of this series, the Holders of not less than 25% in aggregate principal amount of the Securities
of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such
Event of Default as Trustee and offered the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred
in compliance with such request, and the Trustee shall not have received from the Holders of a majority in principal amount of
Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute
any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to
any suit instituted by the Holders of the Securities for the enforcement of any payment of principal hereof on or after the respective
due dates expressed herein.

 

No
reference herein to the Indenture and no provision of this Certificate or of the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of the Securities as herein provided.

 

When
all payments due on the Securities (whether in cash, securities or other property, as specified in the Incorporated Terms and
Conditions), other than unpaid accrued interest thereon, if any, have been made as provided herein (or such payments have
been made available), the principal of the Securities shall be deemed to have been paid in full, whether or not the
Securities shall have been surrendered for payment or cancellation. References to the payment of the principal of the
Securities on any day shall be deemed to mean the payment that is payable on such day (whether in cash, securities or other
property, as specified in the Incorporated Terms and Conditions). Notwithstanding the foregoing, solely for the purpose of
determining whether any consent, waiver, notice or other action to be given or taken by Holders of Securities pursuant to the
Indenture has been given or taken by Holders of Outstanding Securities in the requisite aggregate principal amount, the
principal amount of each Outstanding Security will be deemed to equal the face amount of such Outstanding Security. The
Securities shall cease to be Outstanding as provided in the definition of such term in the Indenture or when the principal of
the Securities shall be deemed to have been paid in full as provided above, subject to the other provisions of this
Certificate, including as provided under “Agreement with Respect to the Exercise of U.K. Bail-in Power”
above.

 

    -6-

     

    

 

As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of the Securities is registrable in
the Senior Debt Security Register, upon surrender of the Securities for registration of transfer at the office or agency of the
Company in any place where the principal of the Securities is payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Senior Debt Security Registrar duly executed by, the Holder hereof or his
attorney duly authorized in writing. Thereupon one or more new Securities of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 

The
Securities, and any other Securities of this series and of like tenor, are issuable only in registered form without coupons in
denominations as specified on the face hereof. As provided in the Indenture and subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
of a different authorized denomination, as requested by the Holder surrendering the same.

 

No
service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith.

 

Prior
to due presentment of this Certificate for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, whether or not
the Securities be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

This
Certificate and the Securities shall be governed by and construed in accordance with the laws of the State of New York.

 

    -7-Exhibit

Exhibit 4.15
DESCRIPTION OF CAPITAL STOCK
The following summary is a description of the material terms of Sirius XM Holdings Inc.’s (“Sirius XM”) capital stock. This summary is not meant to be complete and is qualified in its entirety by reference to the applicable provisions of the General Corporation Law of the State of Delaware, the amended and restated certificate of incorporation of Sirius XM (the “Sirius XM Charter”) and the amended and restated by-laws of Sirius XM (the “Sirius XM Bylaws). 
General
Sirius XM’s authorized capital stock consists of 9,000,000,000 shares of Sirius XM common stock, par value $0.001 per share (the “Sirius XM Common Stock”), and 50,000,000 shares of Sirius XM preferred stock, par value $0.001 per share (the “Sirius XM Preferred Stock”).
Sirius XM Common Stock
Voting Rights
Except as otherwise provided by law, as set forth in the Sirius XM Charter or as otherwise provided in any designation of any outstanding series of Sirius XM Preferred Stock, the holders of Sirius XM Common Stock will have general voting power on all matters as a single class.
Holders of Sirius XM Common Stock are entitled to one vote per share held of record on all matters to be voted on by the holders of Sirius XM Common Stock. Sirius XM stockholders are not entitled to cumulative voting of their shares in elections of directors.
Unless otherwise provided by law, as set forth in the Sirius XM Charter or the Sirius XM Bylaws, when a quorum is present at any meeting, the vote of the holders of Sirius XM Common Stock of a majority in voting power of the stock present in person or represented by proxy and entitled to vote on the matter shall decide any question brought before such meeting.  
Liquidation Rights
In the event of the voluntary or involuntary liquidation, dissolution or winding up of Sirius XM, the prior rights of creditors and the aggregate liquidation preference of any Sirius XM Preferred Stock then outstanding must first be satisfied. The holders of Sirius XM Common Stock will be entitled to share in the remaining assets of Sirius XM on a pro rata basis.
Dividends
Shares of Sirius XM Common Stock are entitled to participate equally in dividends when and as dividends may be declared by the Sirius XM board of directors out of funds legally available.
Preemptive and Other Rights
No holder of shares of any class or series of capital stock of Sirius XM or holder of any security or obligation convertible into shares of any class or series of capital stock of Sirius XM will have any preemptive right to subscribe for, purchase or otherwise acquire shares of any class or series of capital stock of Sirius XM.
Shares of Sirius XM Common Stock do not have any conversion rights, are not subject to redemption and are not entitled to the benefit of any sinking fund provisions.
Transfer Agent and Registrar
The transfer agent and registrar for Sirius XM Common Stock is Computershare Inc.
No Stockholder Rights Plan
Sirius XM currently does not have a stockholder rights plan.

Description of Sirius XM Preferred Stock
The Sirius XM board of directors is authorized to provide for the issuance of shares of Sirius XM Preferred Stock in one or more series, to fix the number of shares constituting such series and the designation of such series, the voting powers (if any), and the preferences and relative, participating, optional or other special rights, if any, and any qualifications, limitations or restrictions thereof, of the shares of such series, by resolution or resolutions adopted by the Sirius XM board of directors providing for the issue of such series (a “Preferred Stock Designation”). This authorization includes the right to fix the designation of the series and the number of shares in it, dividend rates and rights, voting rights, conversion rights, redemption rights, sinking fund provisions liquidation rights, and any other relative rights, preferences, and limitations. As of February 4, 2020, there were no shares of Sirius XM Preferred Stock issued and outstanding.
The number of authorized shares of Sirius XM Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of all of the then outstanding shares of capital stock of Sirius XM entitled to vote generally in the election of directors, voting together as a single class, without a separate vote of the holders of the Sirius XM Preferred Stock, or any series thereof, unless a vote of any such holders is required pursuant to any Preferred Stock Designation.
The issuance of shares of Sirius XM Preferred Stock could adversely affect the availability of earnings for distribution to the holders of Sirius XM Common Stock if the Sirius XM Preferred Stock provides for cumulative dividends, dividend preferences, conversion rights or exchange, redemption or other similar rights or preferences.

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