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Automatic redemption of Barclays ETN+Short B Leveraged ETNs triggered
By Toni Weeks
San Luis Obispo, Calif., April 4 - Barclays Bank plc announced the automatic redemption of its Barclays ETN+Short B Leveraged exchange-traded notes (Symbol: BXDB).
According to a press release, the securities are being redeemed as the result of a stop loss termination event that occurred on April 4. A stop loss termination even occurs when the intraday indicative note value on any index business day prior to or on the final valuation date is less than or equal to 10% of the principal amount per security, or $10 each.
Holders of the notes will receive a cash payment on April 11 equal to the stop loss redemption value of $10 per security.
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