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Barclays updates on iPath series B carbon ETN
Chicago, Jan. 29 – Barclays Bank plc provided an update on its up to $80 million iPath Series B Carbon ETN issue due Sept. 8, 2049 in a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to the Barclays Global Carbon II TR USD Index.
As of the date of the update, after a five-for-one split, there were 5 million notes outstanding at par of $10. Then, there were an additional 3 million of the notes issued on Nov. 1, 2021 for a total of 8 million notes issued. Initially, the principal amount was $50 per note from the inception date to June 4, 2021 pre-split.
The notes trade on the NYSE Arca exchange under the symbol “GRN.”
The payout at maturity will be an amount in cash equal to the closing indicative value on the final valuation date.
On each subsequent calendar day, the closing indicative value will equal (a) the daily index factor on that calendar day (or, if that day is not an index business day, one) times (b) the closing indicative value on the immediately preceding calendar day minus (c) the investor fee on that calendar day.
The closing indicative value as of the split was $19.838.
The daily index factor is the closing level of the index on that business day divided by the closing level of the index on the immediately preceding business day.
The investor fee on the initial valuation date was zero. On each subsequent calendar day, it will be equal to (a) 0.75% times (b) the closing indicative value on the immediately preceding calendar day times (c) the daily index factor on that day (or, if such day is not an index business day, one) divided by (d) 365.
Barclays is the agent for the ETNs (Cusip: 06747C322).
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