Barclays Bank to automatically redeem Short C Leveraged ETNs
Barclays Bank has announced the automatic redemption of its Short C Leveraged Exchange Traded Notes linked to the inverse performance of the S&P 500 Total Return.
The securities are being redeemed as the result of a stop loss termination event occurring on 4 January 2013, the stop loss termination date.
As described in the prospectus, a stop loss termination event occurs on any index business day prior to or on the final valuation date, when the intraday indicative note value is less than or equal to 15 per cent of the principal amount per security, or USD10.00 for each security.
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