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Barclays Bank PLC (“Barclays”) and OFI Global Asset Management, announced today that following the close of business on Friday, July 11, 2014, the following Index Constituents will be removed from the Barclays OFI SteelPath Midstream MLP Index (the “Index”):
Buckeye Partners LP (NYSE: BPL)
Summit Midstream Partners LP (NYSE: SMLP)
Southcross Energy Partners LP (NYSE: SXE)
In addition to the above removals and also occurring following the close of business on Friday July 11, 2014, the following three constituents will be added to the Index:
Atlas Pipeline Partners LP (NYSE: APL)
Atlas Energy LP (NYSE: ATLS)
Holly Energy Partners LP (NYSE: HEP)
The Barclays OFI SteelPath MLP ETNs (the “ETNs”) are linked to the Volume-Weighted Average Price (“VWAP”) of the Index. The ETNs were listed on the NYSE Arca stock exchange on April 24, 2014.
An investment in the ETNs involves significant risks, including possible loss of principal and may not be suitable for all investors. The ETNs are riskier than ordinary unsecured debt securities and have no principal protection. The ETNs are also subject to certain investor fees, which will have a negative effect on the value of the ETNs. The ETNs are speculative and may exhibit high volatility. You are not guaranteed to receive coupon payments on the ETNs. You will receive a coupon payment on a coupon payment date only to the extent that the accrued dividend exceeds the accrued investor fee on the relevant coupon valuation date.
In accordance with the Index methodology as described in the prospectus relating to the ETNs, the Index is rebalanced quarterly. The basket of up to 35 Index Constituents will be rebalanced on a capped, float-adjusted, capitalization-weighted basis across four index business days starting on Friday, July 11, 2014. Constituent additions to and deletions from the Index do not reflect an opinion by Barclays Bank PLC or OFI Global Asset Management on the investment merits of the respective securities.