Barclays Bank PLC announced today the quarterly coupon amount
for the Barclays ETN+ Select MLP ETN (ticker: ATMP) (the
“ETNs”).
CouponValuationDate
CouponRecordDate
Coupon ExDate
CouponPaymentDate
CouponAmount
CurrentYield1
ATMP 2/18/2014
3/3/2014
2/27/2014
3/11/2014 0.2679
3.88%
The Barclays ETN+ Select MLP ETN is linked to the performance of
the Volume-Weighted Average Price (“VWAP”) of the Atlantic Trust
Select MLP Index (the "Index"), and is designed to pay a quarterly
coupon. The Index is designed to provide exposure to a basket of
midstream US and Canadian master limited partnerships, limited
liability companies and corporations (collectively, the “Index
Constituents”) that trade on major US exchanges, are classified in
the GICS® Energy Sector or GICS® Gas Utilities Industry according
to the Global Industry Classification Standard® (“GICS”) and meet
certain eligibility criteria. The Index Constituents are selected
for inclusion in the Index using the Atlantic Trust Select Master
Limited Partnership Strategy (the “Strategy”), which dynamically
selects a basket of up to 100 Index Constituents based on certain
eligibility criteria including their long-term credit rating, the
portion of their earnings originating from mid-stream operations
and their size as measured by free-float market capitalization and
average daily trading value.
An investment in the ETNs involves significant risks,
including possible loss of principal, and may not be suitable for
all investors. The ETNs are riskier than ordinary unsecured
debt securities and have no principal protection. The ETNs are
speculative and may exhibit high volatility. The ETNs are also
subject to certain investor fees, which will have a negative effect
on the value of the ETNs.
For more information regarding the ETNs, including the
calculation of the coupon amount, see the prospectus relating to
the ETNs. The prospectus relating to the ETNs can be found on
EDGAR, the SEC website, at: www.sec.gov. The prospectus is also
available on the product website at www.ETNplus.com.
Selected Risk Considerations
An investment in any ETNs linked to the Atlantic Trust Select
MLP Index (the “ETNs”) involves risks. Selected risks are
summarized here, but we urge you to read the more detailed
explanation of risks described under “Risk Factors” in the
applicable prospectus supplement and pricing supplement.
You May Lose Some or All of Your Principal: The ETNs are
exposed to any decrease in the Volume Weighted Average Price
(“VWAP”) level between the inception date and the applicable
valuation date. Additionally, if the VWAP level is insufficient to
offset the negative effect of the investor fee and other applicable
costs, you will lose some or all of your investment at maturity or
upon redemption, even if the VWAP value has increased. Because the
ETNs are subject to an investor fee and any other applicable costs,
the return on the ETNs will always be lower than the total return
on a direct investment in the index components. The ETNs are
riskier than ordinary unsecured debt securities and have no
principal protection.
Credit of Barclays Bank PLC: The ETNs are unsecured debt
obligations of the issuer, Barclays Bank PLC, and are not, either
directly or indirectly, an obligation of or guaranteed by any third
party. 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. As a result,
the actual and perceived creditworthiness of Barclays Bank PLC will
affect the market value, if any, of the ETNs prior to maturity or
redemption. In addition, in the event Barclays Bank PLC were to
default on its obligations, you may not receive any amounts owed to
you under the terms of the ETNs.
Issuer Redemption: Barclays Bank PLC will have the right
to redeem or “call” the ETNs (in whole but not in part) at its sole
discretion and without your consent on any trading day on or after
the inception date until and including maturity.
The Payment on the ETNs is Linked to the VWAP Level, Not to
the Closing Level of the Index and Not to the Published Intraday
Indicative Value of the ETNs: Your payment at maturity or upon
early redemption is linked to the performance of the VWAP level, as
compared to the initial VWAP level. Although the VWAP level is
intended to track the performance of the Index, the calculation of
the VWAP level is different from the calculation of the official
closing level of the Index. Therefore, the payment at maturity or
early redemption of your ETNs, may be different from the payment
you would receive if such payment were determined by reference to
the official closing level of the Index.
No Guaranteed Coupon Payments: You are not guaranteed to
receive coupon payments on the ETNs. You will receive a coupon
payment on a coupon payment date only to the extent that the
accrued dividend exceeds the accrued investor fee on the relevant
coupon valuation date. The amount of the accrued dividend on any
coupon valuation date depends in part on the aggregate cash value
of distributions that a reference holder would have been entitled
to receive in respect of the index constituents prior to the
relevant coupon valuation date.
Market and Volatility Risk: The return on the ETNs is
linked to the performance of the VWAP level of the Index which, in
turn, is linked to the performance of the master limited
partnerships and other securities that are included as index
constituents at any time. The prices of the index constituents may
change unpredictably and, as a result, affect the level of the
Index and the value of your ETNs in unforeseeable ways.
Concentration Risk: The index constituents are companies
in the Energy Sector or Gas Utilities Sector, as determined by the
GICS® classification system. In addition, many of the index
constituents are smaller, non-diversified businesses that are
exposed to the risks associated with such businesses, including the
lack of capital funding to sustain or grow businesses and potential
competition from larger, better financed and more diversified
businesses. The ETNs are susceptible to general market fluctuations
in the energy and gas MLP market and to volatile increases and
decreases in value, as market confidence in, and perceptions
regarding the index constituents change. Your investment may
therefore carry risks similar to a concentrated securities
investment in one industry or sector.
A Trading Market for the ETNs May Not Develop: Although
the ETNs are listed on NYSE Arca, a trading market for the ETNs may
not develop and the liquidity of the ETNs may be limited, as we are
not required to maintain any listing of the ETNs.
Restrictions on the Minimum Number of ETNs and Date
Restrictions for Redemptions: You must redeem at least 50,000
ETNs at one time in order to exercise your right to redeem your
ETNs on any redemption date. You may only redeem your ETNs on a
redemption date if we receive a notice of redemption from you by
certain dates and times as set forth in the pricing supplement.
Tax Treatment: Significant aspects of the tax treatment
of the ETNs may be less favorable than a direct investment in MLPs
and are uncertain. You should consult your own tax advisor about
your own tax situation.
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
www.etnplus.com or EDGAR on the SEC website at 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 1-888 227 2275 (ext. 2-3430), or you may request a copy
from any other dealer participating in the offering.
The ETNs may be sold throughout the day on the exchange through
any brokerage account. Commissions may apply and there are tax
consequences in the event of sale, redemption or maturity of
ETNs.
Atlantic Trust Select MLP Index is a trademark of Barclays Bank
PLC.
©2014 Barclays Bank PLC. All rights reserved. All other
trademarks, servicemarks or registered trademarks are the property,
and used with the permission, of their respective owners.
NOT FDIC INSURED
NO BANK GUARANTEE
MAY LOSE VALUE
1Current Yield equals the current Coupon Amount annualized and
divided by the relevant closing indicative value of the ETNs,
rounded for ease of analysis. The relevant closing indicative value
is the closing indicative value of the ETNs on February 18,
2014.
Barclays moves, lends, invests and
protects money for customers and clients worldwide. With over 300
years of history and expertise in banking, we operate in over 50
countries and employ over 140,000 people. We provide large
corporate, government and institutional clients with a full
spectrum of solutions to their strategic advisory, financing and
risk management needs. Our clients also benefit from access to the
breadth of expertise across Barclays. We’re one of the largest
financial services providers in the world, and are also engaged in
retail banking, credit cards, corporate banking, and wealth and
investment management. Barclays offers premier investment banking
products and services to its clients through Barclays Bank PLC. For
more information, visit www.barclays.com
Barclays Bank PLCMark Lane, +1 212 412
1413mark.lane@barclays.com
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