Barclays Bank PLC announced today that it has added three currency exchange traded notes (ETNs) to its iPath
ETN platform. The ETNs were created to provide investors with exposure to the total return on local currencies in specified emerging markets and are designed to pay a monthly coupon.
The following are the iPath
Currency ETNs and their exchange tickers:
1. iPath ® GEMS Index™ ETN (JEM)
| 2. iPath ® GEMS Asia 8 ETN (AYT)
| 3. iPath ® Asian & Gulf Currency Revaluation ETN (PGD)
The ETNs are linked to Barclays Capital Global Emerging Markets Strategy (GEMS) Indices. The investable indices allow access to major emerging markets through short-term, liquid and diversified instruments. The GEMS indices are based on the concept of accessing short term money markets in major emerging markets across the world.
“We are pleased to extend our iPath
suite of ETNs with these currency-linked products that provide investors with the opportunity to access emerging market growth,” said Kevin Burke, Head of Investor Solutions, Barclays Capital.
The three ETNs were originally launched in 2008 on NYSE Arca as part of Barclays Bank PLC’s ETN platform. With today’s announcement, they will now be marketed under the iPath
ETNs are designed to provide investors with convenient access to the returns of market benchmarks, less investor fees and other applicable costs. Subject to the requirements described in the applicable prospectus, the ETNs can be sold in the secondary market during trading hours at market prices, and may typically be redeemed in at least 50,000 units on a daily basis directly to Barclays Bank PLC
The prospectuses can be found on EDGAR, the SEC website at:
, as well as on the product website at
Barclays Bank PLC is the issuer of iPath
ETNs and Barclays Capital Inc. is the issuer’s agent in the distribution. Barclays Bank PLC and Barclays Capital Inc. have retained the services of BlackRock Investments, LLC, a member of FINRA, to promote the ETNs and provide certain services relating to the ETNs.
Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 145,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website
For further information about the iPath ETNs go to:
Selected Risk Considerations
An investment in the iPath ETNs described herein (the “ETNs”) involves risks. Selected risks are summarized here, but we urge you to read the more detailed explanation of risks described under “Risk Factors” in the applicable prospectus supplement and pricing supplement.