The Legacy Console support page says:
"The Iron Banner Crucible event will no longer be available on Legacy Consoles after the end of August 2016."
https://www.bungie.net/en/Help/Troubleshoot?oid=44802
But it is also said on the same page that no updates or new content will be provided after August 16th.
Does this mean there will still be one final Iron Banner at the end of August?
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The last iron banner will probably be the 3rd week of August. You'll definitely get another one, as Rise of Iron doesn't release until September 20th.