Barclays Bank has unveiled five new exchange-traded notes (ETNs), which will trade on the NYSE Arca, Mondovisione reports. The new ETNs will track the S&P 500 Total Return Index.
The two long and three short notes each have a different ratio between the purchase price of the securities and the value of the underlying equity exposure. The issue price of each ETN is set between $50 and $100. The notes, which have a five year maturity, can terminate before time if the value of any of the notes falls to or below $10.
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