Barclays Bank and OFI Global Asset Management are to redeem the Barclays OFI SteelPath Midstream MLP Exchange Traded Note (OSMS).
As described in the prospectus and related pricing supplement for the ETNs, Barclays, as issuer of the ETNs, may redeem the ETNs at its sole discretion on any trading day on or after the inception date until maturity.
The redemption date of the ETNs will be 22 June, 2016. Holders of the ETNs on the redemption date will receive a cash payment per ETN equal to the closing indicative value on 9 June, 2016, which is the first day of the issuer redemption measurement period. This closing indicative value will reflect a closing volume-weighted average price (VWAP) level of the underlying index calculated by reference to the arithmetic mean of the VWAP levels as of the close of trading on each of the five index business days from and including such valuation date in the issuer redemption measurement period.
The redemption date of the ETNs specified above is the fifth business day after the last day of the issuer redemption measurement period. Please refer to the prospectus relating to the ETNs for more details on how the closing indicative value is calculated for an issuer redemption of the ETNs.
