Articles Tagged with ETN

iPathFitapelli Kurta is interested in hearing from investors who have complaints regarding investments in the iPath S&P GSCI Crude Oil Total Return Index exchange-traded note (NYSE: OIL).

The iPath S&P GSCI Crude Oil Total Return Index ETNs, according to the product’s website, are “designed to provide exposure to the S&P GSCI Crude Oil Total Return Index.” They are unsecured debt securities with no principal protection that are issued by Barclays. They trade on the New York Stock Exchange under the symbol OIL. According to the iPath: “Any payment to be made on the ETNs, including any payment at maturity or upon redemption, depends on the ability of Barclays Bank PLC to satisfy its obligations as they come due. An investment in the ETNs involves significant risks, including possible loss of principal, and may not be suitable for all investors. The Index is a sub-index of the S&P GSCI® Commodity Index and reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract. Owning the ETNs is not the same as owning interests in the commodities futures contract comprising the Index or a security directly linked to the performance of the Index. For additional information regarding the risks associated with the ETNs, please see “Selected Risk Considerations” below.”

Exchange traded notes (ETNs), like OIL, are unsecured, unsubordinated debt securities issued by an underwriting bank. They track the performance of a particular market, but unlike exchange traded funds (ETFs), they are structured products issued as senior debt notes and do not represent an ownership stake in the markets they track. ETNs have a maturity date backed by the issuer.

iPath Bloomberg NaturalThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding the iPath Bloomberg Natural Gas Subindex Total Return exchange-traded note (GAZ).

The iPath Bloomberg Natural Subindex Total Return ETN, according to ETF.com, is an exchange-traded note issued by Barclays that tracks “an index of front-month futures on natural gas, which is the exact same exposure provided by our benchmark. But GAZ is closed to creations, meaning the key plumbing that underpins all exchange-traded products—the create/redeem process—is broken. This situation isn’t new: GAZ has been closed for creations since 2009, and has traded at massive distortions to fair value at times. In short, proceed with extreme caution.” Continue Reading

iPath Global Carbon ETNThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments in iPath Global Carbon exchange-traded notes (NYSE: GRN).

The iPath Global Carbon ETN is an exchange-traded note linked to the Barclays Capital Global Carbon Total Index Return. This index’s underlying assets, according to Business Insider, are carbon allowances, which are credits that permit companies to produce pre-determined levels of carbon from factories and power states. Continue Reading