diff --git a/mysql-test/r/sp.result b/mysql-test/r/sp.result
index d37c728d6fb..651f0b235d5 100644
--- a/mysql-test/r/sp.result
+++ b/mysql-test/r/sp.result
@@ -6836,6 +6836,16 @@ drop procedure p1;
 drop function f1;
 drop view v1;
 drop table t1;
+drop procedure if exists `p2` $
+create procedure `p2`(in `a` text charset utf8)
+begin
+declare `pos` int default 1;
+declare `str` text charset utf8;
+set `str` := `a`;
+select substr(`str`, `pos`+ 1 ) into `str`;
+end $
+call `p2`('s s s s s s');
+drop procedure `p2`;
 # ------------------------------------------------------------------
 # -- End of 5.0 tests
 # ------------------------------------------------------------------
diff --git a/mysql-test/t/sp.test b/mysql-test/t/sp.test
index 8477211f524..c1e8d4b6f6c 100644
--- a/mysql-test/t/sp.test
+++ b/mysql-test/t/sp.test
@@ -8023,6 +8023,24 @@ drop function f1;
 drop view v1;
 drop table t1;
 
+#
+# Bug#38469 invalid memory read and/or crash with utf8 text field, stored procedure, uservar 
+#
+delimiter $;
+--disable_warnings
+drop procedure if exists `p2` $
+--enable_warnings
+create procedure `p2`(in `a` text charset utf8)
+begin
+        declare `pos` int default 1;
+        declare `str` text charset utf8;
+        set `str` := `a`;
+        select substr(`str`, `pos`+ 1 ) into `str`;
+end $
+delimiter ;$
+call `p2`('s s s s s s');
+drop procedure `p2`;
+
 --echo # ------------------------------------------------------------------
 --echo # -- End of 5.0 tests
 --echo # ------------------------------------------------------------------
diff --git a/sql/field.cc b/sql/field.cc
index b03cc140ade..16bf0fdb070 100644
--- a/sql/field.cc
+++ b/sql/field.cc
@@ -7699,8 +7699,18 @@ int Field_blob::store(const char *from,uint length,CHARSET_INFO *cs)
     return 0;
   }
 
-  if (from == value.ptr())
+  /*
+    If the 'from' address is in the range of the temporary 'value'-
+    object we need to copy the content to a different location or it will be
+    invalidated when the 'value'-object is reallocated to make room for
+    the new character set.
+  */
+  if (from >= value.ptr() && from <= value.ptr()+value.length())
   {
+    /*
+      If content of the 'from'-address is cached in the 'value'-object
+      it is possible that the content needs a character conversion.
+    */
     uint32 dummy_offset;
     if (!String::needs_conversion(length, cs, field_charset, &dummy_offset))
     {
diff --git a/sql/field.h b/sql/field.h
index 0d0d7fba116..aa69fea6bdd 100644
--- a/sql/field.h
+++ b/sql/field.h
@@ -1597,8 +1597,16 @@ private:
 
 class Field_blob :public Field_longstr {
 protected:
+  /**
+    The number of bytes used to represent the length of the blob.
+  */
   uint packlength;
-  String value;				// For temporaries
+  
+  /**
+    The 'value'-object is a cache fronting the storage engine.
+  */
+  String value;
+  
 public:
   Field_blob(uchar *ptr_arg, uchar *null_ptr_arg, uchar null_bit_arg,
 	     enum utype unireg_check_arg, const char *field_name_arg,