.jpg)
NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading five new ETNs linked to the performance of the S&P 500® Total Return IndexSM. The ETNs are issued by Barclays Bank PLC.
Name and Ticker Symbol of theFive New Long and Short Exchange Traded Notes:
- Barclays ETN+ Short B Leveraged Exchange Traded Notes Linked to the Inverse Performance of the S&P 500® Total Return IndexSM – Ticker Symbol “BXDB”
- Barclays ETN+ Short C Leveraged Exchange Traded Notes Linked to the Inverse Performance of the S&P 500® Total Return IndexSM – Ticker Symbol “BXDC”
- Barclays ETN+ Short D Leveraged Exchange Traded Notes Linked to the Inverse Performance of the S&P 500® Total Return IndexSM – Ticker Symbol “BXDD”
- Barclays ETN+ Long B Leveraged Exchange Traded Notes Linked to the S&P 500® Total Return IndexSM – Ticker Symbol “BXUB”
- Barclays ETN+ Long C Leveraged Exchange Traded Notes Linked to the S&P 500® Total Return IndexSM – Ticker Symbol “BXUC”
The five new long and short ETNs are designed to provide access to either the direct or inverse leveraged performance of the S&P 500® Total Return IndexSM. There are two ‘long’ notes and three ‘short’ notes, each with a different ratio between the purchase price of the securities and the value of the underlying equity exposure. The ETNs each have a different initial leverage (up to three times index performance), with an issue price set between $50 and $100. Each of the notes has a 5 year maturity, although if the value of any of the notes falls to or below $10 a ‘stop-loss’ feature causes an earlier termination.
Due to the compounding of daily returns, returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor their holdings consistent with their strategies, as frequently as daily. The prospectuses describe correlation, leverage and other risks.
