The Exchange Traded Notes (“ETNs”) will trade on the NASDAQ
Stock Market
Barclays Bank PLC announced today the transfer of primary
listing venue for 10 iPath® Exchange Traded Notes (the “ETNs”) to
the NASDAQ Stock Market. The affected ETNs are:
ETN Name
ETN Ticker
CUSIP
iPath® US Treasury Steepener ETNs STPP 06740L477
iPath® US Treasury Flattener ETNs FLAT 06740L485
iPath® US Treasury 2-year Bull ETNs DTUL 06740L469
iPath® US Treasury 2-year Bear ETNs DTUS 06740L519
iPath® US Treasury 5-year Bull ETNs DFVL 06740P650
iPath® US Treasury 5-year Bear ETNs DFVS 06740P643
iPath® US Treasury 10-year Bull ETNs DTYL 06740L493
iPath® US Treasury 10-year Bear ETNs DTYS 06740L451
iPath® US Treasury Long Bond Bull ETNs DLBL 06740L527
iPath® US Treasury Long Bond Bear ETNs DLBS 06740L444
The first day of trading for the ETNs on the NASDAQ Stock Market
is expected to be on or about December 29, 2014.
The ETNs are currently listed on NYSE Arca. In accordance with
NYSE Arca Equities, Inc. Rule 5.4(b), Barclays Bank PLC has
notified NYSE Arca that it intends to voluntarily withdraw the ETNs
from listing on NYSE Arca. Barclays Bank PLC expects to file a Form
25 with the Securities and Exchange Commission on the 10th day
following the date hereof.
Following the transfer of listing, all Barclays ETNs based on
indices linked to US Treasury futures will utilize the NASDAQ Stock
Market as their primary listing venue. The Barclays Inverse US
Treasury Composite ETNs (Ticker: TAPR) were listed on the NASDAQ
Stock Market in July 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. For more information regarding the ETNs, see the
relevant product prospectus which can be found on EDGAR, the SEC
website, at: www.sec.gov. The product prospectuses are also
available on the product website at www.ipathetn.com.
Barclays ETNs are senior, unsecured, unsubordinated debt
securities issued by Barclays Bank PLC. Barclays Bank PLC is the
issuer of Barclays ETNs and Barclays Capital Inc. is the issuer’s
agent.
Selected Risk Considerations
An investment in the iPath ETNs (the “ETNs”) involves risks,
including possible loss of principal, and may not be suitable for
all investors. 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.
You May Lose Some or All of Your Principal: The ETNs are
exposed to any change in the level of the underlying index between
the inception date and the applicable valuation date. Additionally,
if the level of the underlying index is insufficient to offset the
negative effect of the investor fee and other applicable costs, you
will lose some or all of your investment at maturity or upon
redemption, even if the value of such index level has increased or
decreased, as the case may be. Because the ETNs are subject to an
investor fee and other applicable costs, the return on the ETNs
will always be lower than the total return on a direct investment
in the index components. The ETNs are riskier than ordinary debt
securities and have no principal protection.
Credit of Barclays Bank PLC: The ETNs are unsecured debt
obligations of the issuer, Barclays Bank PLC, and are not, either
directly or indirectly, an obligation of or guaranteed by any third
party. Any payment to be made on the ETNs, including any payment at
maturity or upon redemption, depends on the ability of Barclays
Bank PLC to satisfy its obligations as they come due. As a result,
the actual and perceived creditworthiness of Barclays Bank PLC will
affect the market value, if any, of the ETNs prior to maturity or
redemption. In addition, in the event Barclays Bank PLC were to
default on its obligations, you may not receive any amounts owed to
you under the terms of the ETNs.
Market and Volatility Risk: The market value of the ETNs
may be influenced by many unpredictable factors and may fluctuate
between the date you purchase them and the maturity date or
redemption date. You may also sustain a significant loss if you
sell your ETNs in the secondary market. Factors that may influence
the market value of the ETNs include prevailing market prices of
the U.S. stock or U.S. Treasury markets, the index components
included in the underlying index, and prevailing market prices of
options on such index or any other financial instruments related to
such index; and supply and demand for the ETNs, including economic,
financial, political, regulatory, geographical or judicial events
that affect the level of such index or other financial instruments
related to such index.
The Underlying U.S. Treasury Note or Bond Yield, or the U.S.
Treasury Yield Curve May Increase, Decrease or Remain Unchanged
Over the Term of Your ETNs: The return on your ETNs is linked
directly or inversely, as the case may be to the performance of the
underlying index, which corresponds directly or inversely,
respectively to changes in the underlying U.S. Treasury note or
bond yield, or in the case of the FLAT and STPP ETNs, to the U.S.
Treasury yield curve. Changes in the underlying U.S. Treasury note
or bond yield or the U.S. Treasury yield curve are affected by a
number of unpredictable factors, and such factors may cause the
underlying U.S. Treasury yield curve to increase, decrease or
remain unchanged over the term of your ETNs.
There is No Guarantee that the Index Level Will Decrease or
Increase by 1.00 Point For Every 0.01% Change in the Level of the
Underlying U.S. Treasury Note or Bond Yield or U.S. Treasury Yield
Curve: Reasons why this might occur include: market prices for
underlying U.S. Treasury note or bond futures contracts may not
capture precisely the underlying changes in the U.S. Treasury note
or bond yield or the U.S. Treasury Yield Curve, as the case may be;
the index calculation methodology uses approximation; and the
underlying U.S. Treasury note or bond weighting is rebalanced
monthly.
Due to the Index Multiplier, Any Changes in the Value of Your
ETNs Will Not Occur at the Same Rate as the Corresponding Changes
in the Value of the Underlying Index: The ETNs apply an index
multiplier, the effect of which is to adjust and, for ETNs
inversely linked to the index, invert the rate at which the value
of the ETNs changes in response to changes in the underlying index
level.
A Trading Market for the ETNs May Not Develop: Although
the ETNs are listed on a U.S. national securities exchange, a
trading market for the ETNs may not develop and the liquidity of
the ETNs may be limited, as we are not required to maintain any
listing of the ETNs.
No Interest Payments from the ETNs: You may not receive
any interest payments on the ETNs.
Restrictions on the Minimum Number of ETNs and Date
Restrictions for Redemptions: You must redeem at least 20,000,
25,000 or 50,000 (depending on the series) ETNs of the same series
at one time in order to exercise your right to redeem your ETNs on
any redemption date. You may only redeem your ETNs on a redemption
date if we receive a notice of redemption from you by certain dates
and times as set forth in the product prospectus.
Uncertain Tax Treatment: Significant aspects of the tax
treatment of the ETNs are uncertain. You should consult your own
tax advisor about your own tax situation.
Barclays Bank PLC has filed a registration statement
(including a prospectus) with the SEC for the offering to which
this communication relates. Before you invest, you should read the
prospectus and other documents Barclays Bank PLC has filed with the
SEC for more complete information about the issuer and this
offering. You may get these documents for free by visiting
www.iPathETN.com or EDGAR on the SEC website at
www.sec.gov. Alternatively, Barclays Bank PLC will
arrange for Barclays Capital Inc. to send you the prospectus if you
request it by calling toll-free 1-877-764-7284, or you may request
a copy from any other dealer participating in the offering.
BlackRock Investments, LLC assists in the promotion of the iPath
ETNs.
The ETNs may be sold throughout the day on the exchange through
any brokerage account. Commissions may apply and there are tax
consequences in the event of sale, redemption or maturity of
ETNs.
“Barclays US Treasury 2Y/10Y Yield Curve IndexTM”, “Barclays 2Y
US Treasury Futures Targeted Exposure IndexTM”, “Barclays 5Y US
Treasury Futures Targeted Exposure IndexTM”, “Barclays 10Y US
Treasury Futures Targeted Exposure IndexTM”, “Barclays Long Bond US
Treasury Futures Targeted Exposure IndexTM” are trademarks of
Barclays Bank PLC.
© 2014 Barclays Bank PLC. All rights reserved.
iPath, iPath ETNs and the iPath logo are registered trademarks of
Barclays Bank PLC. All other trademarks, servicemarks or registered
trademarks are the property, and used with the permission, of their
respective owners.
NOT FDIC INSURED
NO BANK GUARANTEE
MAY LOSE VALUE
Barclays is an international financial
services provider engaged in personal banking, credit cards,
corporate and investment banking and wealth management with an
extensive presence in Europe, the Americas, Africa and Asia.
Barclays’ purpose is to help people achieve their ambitions – in
the right way. With over 300 years of history and expertise in
banking, Barclays operates in over 50 countries and employs
approximately 135,000 people. Barclays moves, lends, invests and
protects money for customers and clients worldwide. For further
information about Barclays, please visit our website
www.barclays.com. Barclays offers
investment banking products and services in the US through Barclays
Capital Inc.
Barclays Bank PLCMark Lane,
+1-212-412-1413mark.lane@barclays.com
Barclays Plc - Barclays Inverse US Treasury Composite Etn (NASDAQ:TAPR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Barclays Plc - Barclays Inverse US Treasury Composite Etn (NASDAQ:TAPR)
Historical Stock Chart
From Oct 2023 to Oct 2024