Barclays reduces minimum early redemption size for 10 series of leveraged equity, currency ETNs

By Wendy Van Sickle

Columbus, Ohio, Dec. 21 – Barclays Bank plc temporarily reduced to 2,000 the minimum early redemption size of six series of ETNs and eliminated the minimum early redemption size for four other series, according to a press release.

Downsized to 2,000

These ETNs include the

• iPath EUR/USD Exchange Rate ETN;

• iPath GBP/USD Exchange Rate ETN; and

• iPath JPY/USD Exchange Rate ETN,

For each of these series, the minimum early redemption size was decreased from 50,000 ETNs.

These ETNs also include the

• iPath Gems index ETN linked to the Barclays Global Emerging Markets Strategy (GEMS) index;

• iPath Gems Asia-8 ETN linked to the Barclays GEMS Asia-8 index; and

• iPath Asian and Gulf Currency Revaluation ETN linked to the Barclays GEMS Pegged Currency index.

For each of these series, the minimum early redemption size was reduced from 20,000 ETNs.

These reductions will be effective from Dec. 22 through Dec. 22, 2020.

Reduced to zero

These ETNs include the

• iPath Long Enhanced MSCI Emerging Markets index ETN linked to the MSCI Emerging Markets Net Total Return index;

• iPath Long Enhanced MSCI EAFE index ETN linked to the MSCI EAFE Net Total Return index;

• iPath Long Extended Russell 1000 TR index ETN linked to the Russell 1000 Total Return index; and

• iPath Long Extended Russell 2000 TR index ETN linked to the Russell 2000 Total Return index.

All of these series previously had a minimum early redemption size of 25,000 ETNs.

For these ETNs, the elimination of the minimum early redemption size will be effective form Dec. 22 through the maturity of the ETNs.

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