By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – Barclays Bank plc priced an additional $177.44 million of Barclays ETN+ Select MLP exchange-traded notes due March 18, 2043, according to a 424B2 filing with the Securities and Exchange Commission.
The $200 million principal amount of additional notes have a $177.44 million market price based on $22.18 per ETN, which is the average of the high and low prices reported on NYSE Arca on Nov. 9.
The issuer issued $75 million principal amount of notes on March 20, 2015, $250 million principal amount of notes on March 15, 2013 and $100 million more on March 3, 2014. The total issue size is now $625 million.
The ETNs are designed to provide investors with exposure to a basket of midstream U.S. master limited partnerships, limited liability companies and corporations by tracking the volume-weighted average price of the Atlantic Trust Select MLP index. Additionally, the index provides exposure to general partners of U.S. MLPs in Canada.
The notes have a $25 face amount.
The notes are designed to pay a quarterly coupon based on the distributions made by the index constituents. The coupon may be zero.
The notes are putable subject to a minimum of 50,000 notes, and they are callable at any time.
The notes are listed on the NYSE Arca stock exchange under the ticker symbol "ATMP.”
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Barclays ETN+ Select MLP ETNs
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Underlying index: | Atlantic Trust Select MLP index
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Amount: | $625 million, increased from $425 million
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Maturity: | March 18, 2043
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Coupon: | Variable; may be zero
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Par amount: | $25
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Payout at maturity: | Amount in cash equal to closing indicative value
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Put option: | At any time subject to minimum of 50,000 notes
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Call option: | At any time
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Pricing dates: | March 12, 2013 for $250 million; Feb. 28, 2014 for $100 million; March 19, 2015 for $75 million; Nov. 10 for $200 million
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Settlement dates: | March 15, 2013 for $250 million; March 3, 2014 for $100 million; March 20, 2015 for $75 million; Nov. 14 for $200 million
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Agent: | Barclays
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Listing: | NYSE Arca: ATMP
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Cusip: | 06742C723
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