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Barclays launches eight commodity iPath ETNs

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The Barclays group has launched eight new iPath exchange-traded notes on the NYSE Arca electronic exchange.

The Barclays group has launched eight new iPath exchange-traded notes on the NYSE Arca electronic exchange. The new ETNs are the first to offer exposure to sub-indices of the Dow Jones-AIG Commodity Index linked to agriculture, copper, energy, grains, industrial metals, livestock, natural gas and nickel.

In June last year Barclays listed the first iPath Dow Jones-AIG Commodity Total Return Index ETN on the New York Stock Exchange; it currently has USD2.25bn in assets under management.

‘We welcome back Barclays with the addition of eight new iPath ETNs to NYSE Group’s growing roster of 19 listed ETNs,’ says Lisa Dallmer, a NYSE group senior vice-president for exchange traded funds and indices. ‘Today’s new listings reiterate NYSE Euronext’s commitment to offering investors access to a diverse range of commodities and specialised products.’

The new ETNs are the iPath Dow Jones-AIG Agriculture Total Return Sub-Index ETN iPath Dow Jones-AIG Copper Total Return Sub-Index ETN, iPath Dow Jones-AIG Energy Total Return Sub-Index ETN, iPath Dow Jones-AIG Grains Total Return Sub-Index ETN, iPath Dow Jones-AIG Industrial Metals Total Return Sub-Index ETN, iPath Dow Jones-AIG Industrial Metals Total Return Sub-Index ETN, iPath Dow Jones-AIG Livestock Total Return Sub-Index ETN and iPath Dow Jones-AIG Natural Gas Total Return Sub-Index ETN.

Philippe El-Asmar, head of investor solutions for the Americas at Barclays Capital, says: ‘The new iPath sub-sector ETNs provide investors with access to harder-to-reach markets. Investment in iPath ETNs exceeded USD3.6bn in their first 16 months, and we believe these new ETNs will continue to attract attention, particularly with daily creations and redemptions available from October.’

Benoit de Vitry, head of commodities, emerging markets rates and quantitative analytics at Barclays Capital, adds: ‘The new iPath ETNs demonstrate Barclays’ continued commitment to providing investors with innovative investment solutions for the commodity markets.’

The iPath ETNs have a 30-year maturity and are senior, unsecured, unsubordinated debt securities issued by Barclays Bank linked to the performance of a market index. Several Barclays divisions worked together to create the ETNs; Barclays Bank is the issuer, Barclays Capital is the issuer’s agent, and Barclays Global Investors Services is the promoter of iPath ETNs to intermediaries.

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