Barclays launches iPath S&P MLP ETN
Barclays Bank has launched the iPath S&P MLP Exchange Traded Note on the NYSE Arca stock exchange under the ticker symbol IMLP.
The ETN is designed to provide investors with a way to gain exposure to the performance of the consolidated volume-weighted average price (VWAP) level of the S&P MLP Index, providing investors broad-based exposure to the energy infrastructure focused master limited partnership (MLP) market.
“We are pleased to expand our suite of exchange traded notes with the first iPath ETN to offer exposure to the MLP market,” says Kevin Burke, head of investor solutions at Barclays. “Investors have shown considerable interest in the MLP market, and the iPath S&P MLP ETN will provide exposure in an exchange-traded format.”
The iPath S&P MLP ETN is linked to the performance of the consolidated VWAP level of the S&P MLP Index. The S&P MLP Index is designed to provide exposure to leading partnerships that trade on major US exchanges and are classified in the GICS energy sector and GICS gas utilities industry. The S&P MLP Index includes both MLPs and publicly traded limited liability companies which have a similar legal structure to MLPs and share the same tax benefits as MLPs.
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