Barclays Bank has announced the automatic redemption of its iPath Short Extended Russell 2000 TR Index exchange-traded note.
The ETNs are being redeemed as the result of an automatic termination event occurring on 13 September 2012, the automatic termination date.
As described in the prospectus, an automatic termination event occurs when the intraday indicative note value of the ETNs on any trading day is equal to or less than the automatic termination level of USD15.00.
Holders of the ETNs on the automatic redemption date, which is the fifth business day following the automatic termination date, will receive a cash payment equal to the automatic redemption value of USD14.8054.
