Barclays Bank has announced the automatic redemption of its Barclays ETN+ Short B Leveraged Exchange Traded Notes.
The securities are being redeemed as the result of a stop loss termination event occurring on 4 April 2014, the stop loss termination date.
As described in the prospectus, a stop loss termination event occurs when the intraday indicative note value on any index business day prior to or on the final valuation date is less than or equal to 10 per cent of the principal amount per security, or USD10.00 for each security.
Holders of the securities on the stop loss redemption date, which is the fifth business day following the stop loss termination date, will receive a cash payment equal to the stop loss redemption value.
