Barclays Debuts ‘Series B’ iPath ETNs

Today Barclays rolled out 17 ETNs designed to replace existing products that are either maturing or delisting, part of an extensive revamp of the company’s iPath family of ETNs.

The new products include 15 new commodity ETNs that replace corresponding first-generation products Barclays will be delisting:

• iPath Series B Bloomberg Agriculture Subindex Total Return ETN (JJAB)
• iPath Series B Bloomberg Aluminum Subindex Total Return ETN (JJUB)
• iPath Series B Bloomberg Coffee Subindex Total Return ETN (BJO)
• iPath Series B Bloomberg Copper Subindex Total Return ETN (JJCB)
• iPath Series B Bloomberg Cotton Subindex Total Return ETN (BALB)
• iPath Series B Bloomberg Energy Subindex Total Return ETN (JJEB)
• iPath Series B Bloomberg Grains Subindex Total Return ETN (JJGB)
• iPath Series B Bloomberg Industrial Metals Subindex Total Return ETN (JJMB)
• iPath Series B Bloomberg Livestock Subindex Total Return ETN (COWB)
• iPath Series B Bloomberg Nickel Subindex Total Return ETN (BJJN)
• iPath Series B Bloomberg Platinum Subindex Total Return ETN (PGMB)
• iPath Series B Bloomberg Precious Metals Subindex Total Return ETN (JJPB)
• iPath Series B Bloomberg Softs Subindex Total Return ETN (JJSB)
• iPath Series B Bloomberg Sugar Subindex Total Return ETN (SGGB)
• iPath Series B Bloomberg Tin Subindex Total Return ETN (JJTB)

The new commodity ETNs cost just 0.45%, whereas the originals carried expense ratios of 0.75%. The fees are also charged differently, in a more consistent and predictable manner similar to how ETFs charge their fees. The new products are also callable, meaning Barclays can redeem them from investors.

Another two of the ETNs launching today replace other iPath products set to mature in January 2019. These ETNs carry the same price, however. Unlike their predecessors, the new VIX ETNs list on the Cboe exchange rather than the NYSE Arca. Cboe Global Markets is the parent company of ETF.com.

The old ETNs are the iPath S&P 500 VIX Short-Term Futures ETN (VXX) and the iPath S&P 500 VIX Mid-Term Futures ETN (VXZ), while the new ones replacing them are as follows:

• iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZB)
• iPath Series B S&P 500 VIX Short-Term Futures ETN (VXXB)

Contact Heather Bell at [email protected]