Barclays Bank is reducing the investor fee rate applicable to the iPath Pure Beta Broad Commodity Exchange Traded Notes (ETNs).
The ETNs currently trade on the NYSE Arca stock exchange under the ticker symbol BCM.
The investor fee rate applicable to the ETNs is being reduced by 0.15 per cent per year. The change is effective from 1 September 2016.
On each calendar day until and including 31 August 2016, the investor fee rate of the ETN was 0.75 per cent per year.
For the period beginning on, but excluding, 31 August, and until maturity or early redemption of the ETNs, the investor fee rate of the ETN will be 0.60 per cent per year.
The investor fee is calculated and subtracted from the closing indicative value of the ETNs on a daily basis in a manner such that the net effect of the fee accumulates over time and is subtracted from the closing indicative value at the per annum investor fee rate.
In addition, the ETNs incur a futures execution cost of 0.10 per cent per year. There is no change to the futures execution cost.