Barclays resumes issuance of iPath ETNs linked to MSCI India Total Return

New York, Aug. 22 - Barclays Bank plc resumed issuance of iPath exchange-traded notes linked to the MSCI India Total Return Index, according to an FWP filed with the Securities and Exchange Commission.

The bank will also resume sales of the securities from inventory.

The actions are based on "further clarification," Barclays said.

Resumed issuance of the ETNs follows a suspension dating back to October 2007 when the Securities Exchange Board of India announced its intention to enact proposed regulations affecting derivative instruments linked to Indian equity securities. The measures were particularly aimed at offshore derivative instruments, such as participatory notes, equity-linked notes and capped return notes issued by foreign institutional investors and their sub-accounts in India.

In response Barclays suspended new issuance of the ETNS. Daily redemptions at the option of the holders were not affected by the suspension.

Following discussions and further clarification, on Nov. 5 Barclays resumed sale of securities from inventory only to the extent that previously sold securities had been redeemed. It also restarted lending of ETNs to the extent that they had previously been lent out.

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