Barclays Bank is calling nearly half of its US-listed exchange-traded notes (ETNs) a month after revealing that its 2022 performance was ‘marred by the over-issuance of securities in the US’.
Barclays said it will redeem 21 of about 50 ETNs of its iPath ETN range on 14 June with investors receiving a cash payment per ETN ‘equal to the applicable closing indicative value or daily redemption value of the ETNs on 7 June 2023, the fifth trading day prior to the Redemption Date (subject to postponement in the event of a market disruption event).’ Trading of the ETNs will be suspended before the market opens on 8 June 2023. The majority of the notes set to be redeemed are
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