Barclays changes name of ETNs inversely linked to S&P 500 VIX Short-Term Futures index

By Angela McDaniels

Tacoma, Wash., Sept. 27 - Barclays Bank plc changed the name of its 0% exchange-traded notes due July 17, 2010 linked to the S&P 500 VIX Short-Term Futures Index Excess Return to iPath Inverse S&P 500 VIX Short-Term Futures ETNs, according to filings with the Securities and Exchange Commission.

Previously, they were called the Barclays ETN+ Inverse S&P 500 VIX Short-Term Futures ETNs.

As already reported, Barclays plans to issue up to $250 million of the notes. It sold an undisclosed amount of notes at par of $20 on July 16 and will sell the remainder at variable prices from time to time.

The ETN is linked to the inverse of the performance of the index, which is designed to reflect the returns that are potentially available through an unleveraged investment in short-term futures contracts on the CBOE Volatility index, also known as the VIX.

The notes are putable at any time, subject to a minimum of 25,000 notes and a redemption charge of 0.05%.

The notes (Cusip 06740L592) are listed on the NYSE Arca under the symbol "XXV."

Barclays Capital Inc. is the agent.

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