Barclays Bank PLC announced today the launch of the iPath ® S&P MLP Exchange Traded Note (ETN) on the NYSE Arca stock exchange under the ticker symbol IMLP. The ETN is designed to provide investors with a way to gain exposure to the performance of the consolidated volume-weighted average price (“VWAP”) level of the S&P MLP Index, providing investors broad-based exposure to the energy infrastructure focused Master Limited Partnership (MLP) market.
“We are pleased to expand our suite of exchange traded notes with the first iPath ® ETN to offer exposure to the MLP market,” said Kevin Burke, Head of Investor Solutions at Barclays. “Investors have shown considerable interest in the MLP market, and the iPath ® S&P MLP ETN will provide exposure in an exchange-traded format.”
“As investors continue to seek out investments with higher yield, this ETN offers the potential for income along with upside appreciation via index-linked exposure to US energy infrastructure-focused partnerships,” said Kevin Murphy, Head of US Equity and Funds Solutions at Barclays.
The iPath ® S&P MLP ETN is linked to the performance of the consolidated VWAP level of the S&P MLP Index. The S&P MLP Index is designed to provide exposure to leading partnerships that trade on major U.S. exchanges and are classified in the GICS ® Energy Sector and GICS ® Gas Utilities Industry. The S&P MLP Index includes both master limited partnerships (“MLPs”) and publicly traded limited liability companies which have a similar legal structure to MLPs and share the same tax benefits as MLPs.The ETN prospectus can be found on EDGAR, the SEC website at: www.sec.gov, as well as on the product website at www.iPathETN.com. iPath ETNs are senior, unsecured, unsubordinated debt securities issued by Barclays Bank PLC. Barclays Bank PLC is the issuer of iPath ETNs and Barclays Capital Inc. is the issuer’s agent. BlackRock’s broker dealer affiliate, BlackRock Investments, LLC, assists in the promotion of the iPath ETNs.