Barclays announces reverse splits for two iPath Treasury bear ETNs

By Marisa Wong

Los Angeles, March 24 – Barclays Bank plc announced it implemented reverse splits of two series of its exchange-traded notes on March 16.

Barclays implemented a 1 for 25 reverse split of its iPath US Treasury 10-year bear ETNs due Aug. 13, 2020 linked to the Barclays Capital 10Y US Treasury Futures Targeted Exposure index (Cusip: 06747G646, CBOE BZX: DTYS), according to a 424B2 filing with the Securities and Exchange Commission. The principal amount per ETN is now $1,250 instead of $50.

The Cusip for these 10-year bear ETNs was changed from 06740L451.

The issuer also implemented a 1 for 75 reverse split of its iPath US Treasury long bond bear ETNs due Aug. 13, 2020 linked to the Barclays Long Bond US Treasury Futures Targeted Exposure index (Cusip: 06747G653, CBOE BZX: DLBS), according to a separate 424B2 filing. The principal amount per ETN is now $3,750 instead of $50.

The Cusip for these long bond bear ETNs was changed from 06740L444.

As previously reported, on March 2 Barclays had suspended, until further notice, any further sales from inventory and any further issuances of the two series of ETNs.

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