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Published on 11/24/2010 in the Prospect News Structured Products Daily.

Barclays plans to price 11 new series of iPath exchange-traded notes

By Angela McDaniels

Tacoma, Wash., Nov. 24 - Barclays Bank plc plans to price 11 new series of its 0% iPath exchange-traded notes, according to 424B3 filings with the Securities and Exchange Commission.

The bank will price five series that give short exposure:

• iPath Short Extended S&P 500 Total Return index ETNs (Cusip 06740P700);

• iPath Short Extended Russell 1000 Total Return index ETNs (Cusip 06740P304);

• iPath Short Extended Russell 2000 Total Return index ETNs (Cusip 06740P502);

• iPath Short Enhanced MSCI EAFE index ETNs (Cusip 06740P882); and

• iPath Short Enhanced MSCI Emerging Markets index ETNs (Cusip 06740P866).

The notes are expected to be listed on the NYSE Arca under the symbols "SFSA," "ROSA," "RTSA," "MFSA" and "EMSA," respectively.

The bank will price six series that give long exposure:

• iPath Long Extended S&P 500 Total Return index ETNs (Cusip 06740P601);

• iPath Long Extended Russell 1000 Total Return index ETNs (Cusip 06740P205);

• iPath Long Extended Russell 2000 Total Return index ETNs (Cusip 06740P403);

• iPath Long Enhanced MSCI EAFE index ETNs (Cusip 06740P809);

• iPath Long Enhanced MSCI Emerging Markets index ETNs (Cusip 06740P874); and

• iPath Long Enhanced S&P 500 VIX Mid-Term Futures ETNs (Cusip 06740L170).

These notes are expected to be listed on the NYSE Arca under the symbols "SFLA," "ROLA," "RTLA," "MFLA," "EMLA" and "VZZ," respectively.

The principal amount will be $50 for the notes linked to the S&P and Russell indexes, $100 for the notes linked to the MSCI indexes and $30 for the VIX notes.

For the short notes, the payout at maturity or upon redemption will be based on a leveraged participation in the inverse performance of the underlying index, less a daily investor fee, less a daily index borrow cost and plus daily interest.

For the long notes, the payout at maturity or upon redemption will be based on a leveraged participation in the performance of the underlying index, less a daily investor fee, less a daily index borrow cost and plus daily interest.

For the VIX notes, the payout at maturity or upon redemption will be based on a leveraged participation in the performance of the index, less a daily financing charge and less a daily investor fee.

The leverage factor is three for the notes linked to the S&P and Russell indexes and two for the notes linked to the MSCI indexes and the VIX notes.

The investor fee rate is 0.35% for the S&P ETNs, 0.5% for the Russell ETNs, 0.8% for the MSCI ETNs and 0.89% for the VIX notes. The borrow rate is 0.5% for the S&P ETNs, 1% for the Russell 1000 ETNs, 1.75% for the Russell 2000 and MSCI EAFE ETNs and 2.5% for the MSCI Emerging Markets ETNs.

The notes are putable at any time, subject to a minimum of 25,000 notes, and they will be called if the intraday indicative value of the notes falls too low. The call level is $10.00 for the S&P, Russell 1000 and VIX ETNs, $15.00 for the Russell 2000 ETNs, $37.50 for the short MSCI EAFE ETNS, $45.00 for the short MSCI Emerging Markets ETNs and $25.00 for the long MSCI EAFE and MSCI Emerging Markets ETNs.

Barclays Capital Inc. is the agent.


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