27/04/2010 Barclays brings iPath® Exchange Traded Notes to the LSE
The London Stock Exchange (“LSE”) today welcomed Barclays Bank PLC as they launched the first iPath® exchange traded notes (“ETNs”) in the UK. Twelve new ETNs were listed, providing investors with exposure to commodities and volatility.
Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate banking, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the Americas, Africa and Asia.
iPath® ETNs have a 30-year maturity and are senior, unsecured, unsubordinated, callable debt securities issued by Barclays Bank PLC, linked to the performance of a market index. iPath® ETNs have a daily redemption right and investors can trade them on an exchange at market prices. iPath® ETNs are designed to provide investors with a new way to access the returns of market benchmarks or strategies.
The iPath® VSTOXX® Short-Term Futures Total Return ETN, listed under the ticker VSXX, is based on the underlying EURO STOXX 50 Volatility Short-Term Futures Index. The index is the first of its kind in Europe and is licensed exclusively to Barclays.
Uwe Becker, Managing Director and Head of Investor Solutions Europe, Barclays Capital said: “Today’s launch marks a natural extension of the global iPath® ETN platform, which has $6.9bn assets under management. We see significant demand in the market for products that enable strategies that may not be possible in other types of ETPs. ETNs provide simplicity, transparency and efficiency, cutting down the number of counterparties involved.”
 The iPath® VSTOXX® Short-Term Futures Total Return has a 10-year maturity.