Barclays iPath(R) ETNs Attract More Than $3 Billion in Market Capitalization
NEW YORK, Sept. 20 /PRNewswire/ -- Barclays PLC announced that
investments in iPath(R) Exchange Traded Notes (iPath ETNs(R)) surpassed $3
billion. The first two iPath ETNs were launched in early June 2006 and a
total of eight have been issued since then.
"This is a new benchmark for the ETN market and it underscores the
significant interest in Barclays iPath ETNs," said Philippe El-Asmar,
Managing Director, Head of Investor Solutions, Americas at Barclays
Capital. "Barclays businesses have aligned in a unique way to offer
investors eight ETNs that achieve innovative, transparent, and
cost-effective investment in previously expensive or difficult-to-reach
markets. We remain committed to expanding the iPath ETNs suite of
products."
iPath ETNs typically have a 30-year maturity and are senior, unsecured,
unsubordinated debt securities issued by Barclays Bank PLC linked to the
performance of a market benchmark or strategy. iPath ETNs are designed to
provide investors with convenient access to the returns of market
benchmarks, less investor fees, with easy transferability.
Several Barclays divisions worked together to create this success.
Barclays Bank PLC is the issuer, Barclays Capital Inc., is the issuer's
agent, and Barclays Global Investors Services is the promoter of iPath ETNs
to intermediaries.
The first two iPath ETNs are linked to commodity indexes, the Dow
Jones- AIG Commodity Index Total Return(SM) and the S&P GSCI(TM) Total
Return Index. The third iPath ETN is linked to the S&P GSCI(TM) Crude Oil
Total Return Index. The fourth iPath ETN is linked to the MSCI India
Index(SM), which is designed to measure the market performance, including
price performance and income from dividend payments, of Indian equity
securities. In May, the first iPath ETNs designed specifically to offer
exposure to a single currency exchange rate relative to the US dollar were
launched, as well as the first iPath ETN to offer investors exposure to the
CBOE S&P 500 BuyWrite Index(SM), less applicable fees.
The pricing supplements can be found on the SEC website at:
-- (iPath ETNs linked to the Dow Jones-AIG Commodity Index Total
Return(SM))
http://www.sec.gov/Archives/edgar/data/312070/000119312507078065/d424b3.htm
-- (iPath ETNs linked to the S&P GSCI(TM) Total Return Index)
http://www.sec.gov/Archives/edgar/data/312070/000119312507078059/d424b3.htm
-- (iPath ETNs linked to the S&P GSCI(TM) Crude Oil Total Return Index)
http://www.sec.gov/Archives/edgar/data/312070/000119312507078063/d424b3.htm
-- (iPath ETNs linked to the MSCI India Index(SM))
http://www.sec.gov/Archives/edgar/data/312070/000119312507078162/d424b3.htm
-- (iPath ETNs linked to the CBOE S&P 500 BuyWrite Index(SM))
http://www.sec.gov/Archives/edgar/data/312070/000119312507120898/d424b3.htm
-- (iPath EUR/USD Exchange Rate ETN)
http://www.sec.gov/Archives/edgar/data/312070/000119312507106298/d424b3.htm
-- (iPath GBP/USD Exchange Rate ETN)
http://www.sec.gov/Archives/edgar/data/312070/000119312507106287/d424b3.htm
-- (iPath JPY/USD Exchange Rate ETN)
http://www.sec.gov/Archives/edgar/data/312070/000119312507106291/d424b3.htm
The following link provides further information about the iPath ETNs:
http://www.iPathETN.com/
An investment in iPath ETNs involves risks, including possible loss of
principal. For a description of the main risks see "Risk Factors" in the
applicable prospectus.
About Barclays
Barclays PLC is a major global financial services provider engaged in
retail and commercial banking, credit cards, investment banking, wealth
management and investment management services. We are one of the largest
financial services companies in the world by market capitalization. With
over 300 years of history and expertise in banking, Barclays operates in
over 50 countries and employs 127,000 people. We move, lend, invest and
protect money for over 25 million customers and clients worldwide. For
further information about Barclays, please visit our website
www.barclays.com.
About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank
PLC which has an AA long-term credit rating and a balance sheet of over 1.1
trillion pounds sterling(US$2.3 trillion*). With a distinctive business
model, Barclays Capital provides large corporate, government and
institutional clients with solutions to their financing and risk management
needs. Barclays Capital has offices in 26 countries, employs over 15,700
people and has the global reach and distribution power to meet the needs of
issuers and investors worldwide. For further information about Barclays
Capital, please visit our website www.barclayscapital.com. *US$ figure was
derived using the US$/pound exchange rate at 30.06.07 of US$2.01/1 pound
About BGI
Barclays Global Investors is one of the world's largest asset managers
and a leading global provider of investment management products and
services. It has over 2,900 institutional clients and over $2.0 trillion of
assets under management. It transformed the investment industry by creating
the first index strategy in 1971 and the first quantitative active strategy
in 1979. BGI is the global product leader in Exchange Traded Funds
(iShares) with over 290 funds for institutions and individuals trading in
19 markets. Globally, it has $359 billion of iShares assets under
management. For further information about Barclays Global Investors, please
visit our website www.barclaysglobal.com.
Barclays Bank PLC has filed a registration statement (including a
prospectus) with the SEC for the offerings to which this communication
relates. Before you invest, you should read the prospectus and other
documents Barclays Bank PLC has filed with the SEC for more complete
information about the issuer and these offerings. You may get these
documents for free by visiting www.iPathETN.com or EDGAR on the SEC website
at www.sec.gov. Alternatively, Barclays Bank PLC will arrange for Barclays
Capital Inc. to send you the prospectus if you request it by calling
toll-free 1-877-76-iPATH, or you may request a copy from any other dealer
participating in the offering.
Barclays Global Investors Services, a subsidiary of Barclays Global
Investors, N.A. ("BGINA"), assists in the promotion of the Securities.
Barclays Global Investors, N.A. and Barclays Capital Inc. ("BCI") are
affiliates of Barclays Bank PLC.
iPath ETNs (the "Securities") are unsecured obligations of Barclays
Bank PLC and are not secured debt. The Securities are riskier than ordinary
unsecured debt securities and have no principal protection. Risks of
investing in the Securities include limited portfolio diversification,
trading price fluctuations, uncertain principal repayment, and illiquidity.
Investing in the Securities is not equivalent to direct investment in index
or index components. The investor fee will reduce the amount of an
investor's return at maturity or on redemption, and as a result the
investor may receive less than the principal amount of the investment at
maturity or upon redemption of the Securities even if the value of the
relevant index has increased. An investment in iPath ETNs may not be
suitable for all investors. The Securities may be sold throughout the day
on the exchange through any brokerage account. There are restrictions on
the minimum number of Securities an investor may redeem directly with the
Issuer, and on the dates on which the investor may redeem them, as
specified in the applicable prospectus. Commissions may apply and there are
tax consequences in the event of sale, redemption or maturity of
Securities. Sales in the secondary market may result in significant losses.
"Dow Jones(R)," "AIG(R)," "Dow Jones-AIG Commodity Index Total
Return(SM)," "DJAIGCI(SM)" "Dow Jones-AIG Commodity Index(SM)," "Dow
Jones-AIG Agriculture Total Return Sub-Index(SM)," "Dow Jones-AIG Copper
Total Return Sub-Index(SM)," "Dow Jones-AIG Grains Total Return
Sub-Index(SM)," and "Dow Jones-AIG Nickel Total Return Sub-Index(SM)" are
registered trademarks or servicemarks of Dow Jones & Company, Inc. ("Dow
Jones"), and American International Group, Inc. ("AIG"), as the case may
be, and have been licensed for use for certain purposes by Barclays Bank
PLC for the Securities. The Securities based on the Dow Jones-AIG Commodity
Index Total Return(SM) are not sponsored, endorsed, sold or promoted by Dow
Jones, AIG Financial Products Corp. ("AIG-FP"), AIG, or any of their
respective subsidiaries or affiliates and none of Dow Jones, AIG-FP, AIG,
or any of their respective subsidiaries or affiliates makes any
representation regarding the advisability of investing in such Securities.
"Standard & Poor's(R)," "S&P(R)," "GSCI(R)," "S&P(R) GSCI(R)," "S&P(R)
GSCI(R) Index," "S&P(R) GSCI(R) Total Return Index," "S&P(R) GSCI(R) Crude
Oil Total Return Index" and "S&P(R) GSCI(R) Commodity Index" are trademarks
or service marks of The McGraw-Hill Companies, Inc. and have been licensed
for use by Barclays Bank PLC in connection with the Securities. The S&P(R)
GSCI(R) Index, the S&P(R) GSCI(R) Total Return Index, the S&P(R) GSCI(R)
Crude Oil Total Return Index, and S&P(R) GSCI(R) Commodity Index are not
owned, endorsed, or approved by or associated with Goldman Sachs & Co. or
its affiliated companies. The Securities are not sponsored, endorsed, sold
or promoted by Standard & Poor's, a division of the McGraw-Hill Companies,
Inc. or any of its affiliates ("Standard & Poor's"). Standard & Poor's does
not make any representation or warranty, express or implied, to the owners
of the Securities or any member of the public regarding the advisability of
investing in securities generally or in the Securities particularly or the
ability of the S&P(R) GSCI(R) Index or any of its subindexes to track
general commodity market performance.
The MSCI indexes are the exclusive property of Morgan Stanley Capital
International Inc. ("MSCI"). MSCI and the MSCI index names are service
mark(s) of MSCI or its affiliates and have been licensed for use for
certain purposes by Barclays Bank PLC. The financial securities referred to
herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no
liability with respect to any such financial securities. The Pricing
Supplement contains a more detailed description of the limited relationship
MSCI has with Barclays Bank PLC and any related financial securities. No
purchaser, seller or holder of this product, or any other person or entity,
should use or refer to any MSCI trade name, trademark or service mark to
sponsor, endorse, market or promote this product without first contacting
MSCI to determine whether MSCI's permission is required. Under no
circumstances may any person or entity claim any affiliation with MSCI
without the prior written permission of MSCI.
"Standard & Poor's(R)," "S&P(R)," "S&P 500(R)," "Standard & Poor's 500"
and "500" are trademarks of Standard & Poor's, a division of The
McGraw-Hill Companies, Inc., and "BuyWrite" and "CBOE" are trademarks of
the Chicago Board Options Exchange, Incorporated ("CBOE"). These marks have
been licensed for use by Barclays Bank PLC. The Securities are not
sponsored, endorsed, sold or promoted by Standard & Poor's or CBOE and
Standard & Poor's and CBOE make no representation regarding the
advisability of investing in the Securities.
(C) 2007 BGINA. All rights reserved. iPath, iPath ETNs and the iPath
logo are registered trademarks of Barclays Bank PLC. All other trademarks,
servicemarks or registered trademarks are the property, and used with the
permission, of their respective owners.
SOURCE Barclays
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