Barclays Bank has launched the iPath Series B S&P GSCI Crude Oil ETNs on the NYSE Arca exchange under the ticker symbol OILB.
The new ETNs are designed to provide investors with exposure to the performance of the S&P GSCI Crude Oil Total Return Index.
The index is a sub-index of the S&P GSCI Commodity Index and reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract.
The new ETNs feature an investor fee calculated and subtracted from the closing indicative value of the ETNs on a daily basis at a rate of 0.45 per cent per annum. The new ETNs will be redeemable at the sole discretion of Barclays on any trading day on or after their inception until maturity.
