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566,317 Trendspotter index notes issued by Barclays Bank Plc. are in exchange trading on the parallel market as of 11 March 2008. The notes are yet another structured product available on the Warsaw Stock Exchange
The reference price of the instrument at the first session was equal to 100% of the denomination at PLN 100 per note. The maturity date of the notes is 8 February 2011. The Trendspotter notes are listed in the single-price auction system with a double fixing.
The Trendspotter notes are based on a basket of underlying instruments representing six different asset classes:- commodities – WTI crude oil,
- real estate – shares of euro zone construction companies operating on the European real estate market – FTSE EPRA NAREIT Euro Zone Public Real Estate Index,
- shares of selected Central and Eastern European companies listed on the stock exchange in Poland, Hungary, and the Czech Republic – CECE EUR Index,
- government bonds of euro zone countries – IBOXX EUR Zone Sovereigns Overall Total Return Index (euro zone countries),
- PLN money market WIBOR 6M Index,
- hedging funds - HFRX Global Hedge Fund EUR Index.
Barclays Bank Plc and its subsidiaries are a leading group providing global financial services including retail and commercial banking, credit cards, investment banking, wealth management and investment management services. The bank has a presence in over 60 countries globally.
Structured products are financial instruments whose price depends on a specific market parameter (e.g., prices of shares or baskets of shares, stock exchange indices, commodity prices, fx rates). Investment in a single type of securities enables easy participation in changes of foreign indices, baskets of shares, and prices of commodities such as gold and crude oil.
Structured products are increasingly popular with investors. The value of trading in structured instruments was PLN 980 thousand in December 2007 and 10 times highest at PLN 9.8 million in January 2008. The value of trading in structured products was over PLN 25 million in February 2008 (the number of listed structured products went up from 12 to 19). The volume of trading is also growing dynamically: it was 6.5 thousand instruments in December 2007 and over 106 thousand instruments in February 2008.
Currently the WSE lists 20 structured products issued by Deutsche Bank London, Erste Bank, Raiffeisen Centrobank, UniCredit, and Barclays Bank.
For more information on structured products, see the WSE website (www.wse.com.pl).
