Barclays calls 21 series of iPath commodities ETNs

By William Gullotti

Buffalo, N.Y., April 18 – Barclays Bank plc will exercise its issuer call option to fully redeem 21 series of iPath exchange-traded notes on June 14, according to a press release on Tuesday.

The 21 series of ETNs include:

• iPath Pure Beta Crude Oil ETN (OIL) (Cusip: 06740P221);

• iPath Pure Beta Broad Commodity ETN (BCM) (Cusip: 06740P114);

• iPath S&P GSCI Total Return Index ETN (GSP) (Cusip: 06738C794);

• iPath Bloomberg Cocoa Subindex Total Return ETN (NIB) (Cusip: 06739H313);

• iPath Bloomberg Lead Subindex Total Return ETN (LD) (Cusip: 06739H263);

• iPath Series B Bloomberg Natural Gas Subindex Total Return ETN (GAZ) (Cusip: 06745T368);

• iPath Series B Bloomberg Energy Subindex Total Return ETN (JJE) (Cusip: 06746P530);

• iPath Series B Bloomberg Copper Subindex Total Return ETN (JJC) (Cusip: 06746P555);

• iPath Series B Bloomberg Coffee Subindex Total Return ETN (JO) (Cusip: 06746P563);

• iPath Series B Bloomberg Grains Subindex Total Return ETN (JJG) (Cusip: 06746P522);

• iPath Series B Bloomberg Nickel Subindex Total Return ETN (JJN) (Cusip: 06746P480);

• iPath Series B Bloomberg Cotton Subindex Total Return ETN (BAL) (Cusip: 06746P548);

• iPath Series B Bloomberg Tin Subindex Total Return ETN (JJT) (Cusip: 06746P431);

• iPath Series B Bloomberg Sugar Subindex Total Return ETN (SGG) (Cusip: 06746P449);

• iPath Series B Bloomberg Agriculture Subindex Total Return ETN (JJA) (Cusip: 06746P589);

• iPath Series B Bloomberg Industrial Metals Subindex Total Return ETN (JJM) (Cusip: 06746P514);

• iPath Series B Bloomberg Aluminum Subindex Total Return ETN (JJU) (Cusip: 06746P571);

• iPath Series B Bloomberg Livestock Subindex Total Return ETN (COW) (Cusip: 06746P498);

• iPath Series B Bloomberg Softs Subindex Total Return ETN (JJS) (Cusip: 06746P456);

• iPath Series B Bloomberg Precious Metals Subindex Total Return ETN (JJP) (Cusip: 06746P464); and

• iPath Series B Bloomberg Platinum Subindex Total Return ETN (PGM) (Cusip: 06746P472).

In each case, holders will receive a cash payment per ETN equal to the applicable closing value or daily redemption value, as the case may be, of the ETNs on June 7. Said date is the fifth trading day prior to redemption, and trading in the ETNs will be suspended before market open on June 8.

Additionally, Barclays announced that, effective immediately, it is waiving in full the minimum redemption size relating to each series of ETNs, and, subject to the conditions and procedures described in the prospectus for the relevant series of ETNs, holders of the ETNs can redeem their ETNs to Barclays with no minimum number of ETNs.

As described in the prospectus for each series of ETNs, the aforementioned valuation date for the issuer redemption will be the “final valuation date” for each series of ETNs. Therefore, no elections for holder redemption having a valuation date on or after June 7, 2023 will be accepted.

According to the release, Barclays intends to continue to offer and sell the ETNs from its inventory through Barclays Capital Inc., as agent, until and including the valuation date.

For more information Barclays can be contacted (financial advisers: etndesk@barclays.com, 212 528-7990; individual investors: etndesk@barclays.com, 212 528-7990).

Barclays is a banking and financial services company based in London.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.