iPathSM ETNs are securities linked to the performance of a market index. They are designed to provide investors with convenient access to the returns of market benchmarks, less investor fees, with easy transferability. The first two are: iPathSM ETNs linked to GSCI® Total Return Index (NYSE: GSP) and iPathSM ETNs linked to Dow Jones-AIG Commodity Index Total ReturnSM (NYSE: DJP). The two above-mentioned iPath ETNs each will have a 30-year maturity. 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 iPathSM Exchange Traded Notes linked to GSCI® Total Return Index (NYSE: GSP) provide investors with exposure to the returns potentially available through an unleveraged investment in the contracts comprising the GSCI® plus the Treasury Bill rate of interest that could be earned on funds committed to the trading of the underlying contracts.
The commodities represented in the GSCI® Total Return Index are production-weighted to reflect their relative significance to the world economy. Crude oil is currently the dominant commodity in this index.
The iPathSM Exchange Traded Notes, linked to Dow Jones-AIG Commodity Index Total ReturnSM (NYSE: DJP) provides investors with exposure to the returns that are potentially available through an unleveraged investment in the contracts comprising the index plus the rate of interest that could be earned on cash collateral invested in specified Treasury Bills.
In celebration of the two iPathSM ETNs listings, Robert E. Diamond Jr., President of Barclays PLC, rang today’s Opening BellSM. Barclays visit to the NYSE also marked the company’s 20th anniversary of listing on the Exchange as well as its title sponsorship of the Barclays Classic Golf Tournament at the Westchester Country Club.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The NYSE is the world’s largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities. Our listed operating companies represent a total global market capitalization of over $22.9 trillion. In the first quarter 2006, on an average trading day, over 1.7 billion shares, valued at over $65 billion, were traded on the NYSE.
NYSE Arca operates the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca is also an exchange for trading equity options. NYSE Arca’s trading platform links traders to multiple U.S. market centers and provide customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
For more information on NYSE Group, go to: http://www.nyse.com/ . Information contained on our website does not constitute an offering of our security.
