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Barclays launches eight iPath ETNs linked to US treasury futures indices

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Barclays Bank has launched eight iPath exchange-traded notes on the NYSE Arca stock exchange.

These are the first iPath ETNs that provide exposure to fixed income strategies.

They are: iPath US Treasury Steepener ETN; iPath US Treasury Flattener ETN; iPath US Treasury 2-year Bull ETN; iPath US Treasury 2-year Bear ETN; iPath US Treasury 10-year Bull ETN; iPath US Treasury 10-year Bear ETN; iPath US Treasury Long Bond Bull ETN; and iPath US Treasury Long Bond Bear ETN.

“The new ETNs allow investors to take a view on whether the yield curve will steepen or flatten or if specific yields might increase or decrease,” says Philippe El-Asmar, managing director, head of investor solutions at Barclays Capital. “This launch underscores our commitment to expanding the iPath ETN platform in the US and providing investors with innovative investment solutions across all asset classes. The ETN market in the US has grown tremendously since it launched in 2006 with over USD10bn assets currently under management in ETNs.”

The ETNs are senior, unsecured, unsubordinated debt securities of Barclays Bank.

iPath ETNs are designed to provide investors with convenient access to the returns of market benchmarks, less investor fees. Subject to requirements described in the applicable prospectus, the securities 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 the issuer.

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