Barclays iPath(R) Exchange Traded Notes Scheduled to Move to NYSE Arca
December 17 2007 - 8:07AM
PR Newswire (US)
NEW YORK, Dec. 17 /PRNewswire/ -- Barclays Bank PLC today announced
it will transfer its NYSE-listed iPath(R) ETNs to the NYSE Arca
listing and trading platform on December 31, 2007. No action is
needed by current investors. The following iPath(R) ETNs will be
transferred: iPath(R) Dow Jones-AIG Commodity Index Total
Return(SM) ETN DJP iPath(R) S&P GSCI(TM) Total Return Index ETN
GSP iPath(R) MSCI India Index(SM) ETN INP iPath(R) EUR/USD Exchange
Rate ETN ERO iPath(R) GBP/USD Exchange Rate ETN GBB iPath(R)
JPY/USD Exchange Rate ETN JYN iPath(R) S&P GSCI(TM) Crude Oil
Total Return Index ETN OIL NYSE Euronext announced earlier this
year its plans to move all ETF and ETN trading to NYSE Arca by
year-end because it believes that offering a single platform for
listing and trading ETFs and ETNs will further improve efficiencies
and market quality. "The NYSE specialists representing iPath ETNs
are already acting as lead market makers in primary listings on
NYSE Arca and will continue to provide value for investors," said
Philippe El-Asmar, Head of Investor Solutions, Americas at Barclays
Capital. The iPath ETNs have a 30-year maturity and are senior,
unsecured, unsubordinated debt securities issued by Barclays Bank
PLC linked to the performance of a market index. iPath ETNs, which
investors can trade on an exchange at market prices, are designed
to provide investors with convenient access to the returns of
market benchmarks, less investor fees. 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. 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 http://www.barclays.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. Barclays Bank PLC has filed a registration statement
(including a prospectus) with the SEC for the offering 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 this
offering. You may get these documents for free by visiting
http://www.ipathetn.com/ or EDGAR on the SEC website at
http://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, trade 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 your return at maturity or
on redemption, and as a result you may receive less than the
principal amount of your investment at maturity or upon redemption
of your 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 you may redeem directly with the
issuer 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. The index components for iPath
ETNs linked to commodities indexes are concentrated in the
commodities sector. The market value of the Securities may be
influenced by many unpredictable factors, including, where
applicable, highly volatile commodities prices, changes in supply
and demand relationships; weather; agriculture; trade; pestilence;
changes in interest rates; and monetary and other governmental
policies, action and inaction. Index components that track the
performance of a single commodity, or index components concentrated
in a single sector, are speculative and may typically exhibit
higher volatility. The current or "spot" prices of the underlying
physical commodities may also affect, in a volatile and
inconsistent manner, the prices of futures contracts in respect of
the relevant commodity. These factors may affect the value of the
index and the value of your Securities in varying ways. An
investment in iPath ETNs linked to the performance of a foreign
currency exchange rate is subject to risks associated with
fluctuations, particularly a decline, in the price of the
applicable single foreign currency relative to the U.S. dollar.
Factors that may have the effect of causing a decline in the price
of a foreign currency include national debt levels and trade
deficits, domestic and foreign inflation rates, domestic and
foreign interest rates, and global or regional economic, financial,
political, regulatory, geographical or judicial events. Currency
exchange rates may be extremely volatile, and exposure to a single
currency can lead to significant losses. An investment in the iPath
ETNs linked to the MSCI India Total Return Index(SM) may carry
risks similar to a concentrated securities investment in a single
region. International investments may involve risk of capital loss
from unfavorable fluctuation in currency values, from differences
in generally accepted accounting principles or from economic or
political instability in other nations. Emerging markets involve
heightened risks related to the same factors as well as increased
volatility and lower trading volume. Securities focusing on a
single country may be subject to higher volatility. "Dow Jones(R)",
"AIG(R)", "Dow Jones-AIG Commodity Index(SM)", "DJ- AIGCI(SM)",
"Dow Jones-AIG Commodity Index Total Return(SM)", "Dow Jones-AIG
Agriculture Total Return Sub-Index(SM)", "Dow Jones-AIG Copper
Total Return Sub-Index(SM)", "Dow Jones-AIG Energy Total Return
Sub-Index(SM)", "Dow Jones- AIG Grains Total Return Sub-Index(SM)",
"Dow Jones-AIG Industrial Metals Total Return Sub-Index(SM)", "Dow
Jones-AIG Livestock Total Return Sub-Index(SM)", "Dow Jones-AIG
Natural Gas 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. 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)", "GSCI(R)", "S&P GSCI(TM)", "S&P
GSCI(TM) Index", "S&P GSCI(TM) Total Return Index", "S&P
GSCI(TM) Crude Oil Total Return Index" and "S&P GSCI(TM)
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 GSCI(TM) Index, the
S&P GSCI(TM) Total Return Index, the S&P GSCI(TM) Crude Oil
Total Return Index, and S&P GSCI(TM) 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 GSCI(TM)
Index or any of its subindexes to track general commodity market
performance. 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. DATASOURCE: Barclays Bank
PLC CONTACT: Peter Truell, +1-212-412-7576, , or Kristin Friel,
+1-212-412-7521, ; or Christine Hudacko, +1-415-597-2687, Web site:
http://www.barclays.com/ http://www.ipathetn.com/
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