London based Barclays Bank has rolled out iPath S&P MLP exchange traded note (ETN) on the NYSE Arca stock exchange, intended to provide investors with exposure to the Master Limited Partnership (MLP) market.
Designed to provide exposure of the consolidated volume-weighted average price (VWAP) level of the S&P MLP Index, the new ETN offers exposure to energy infrastructure focused MLP market.
Barclays investor solutions head Kevin Burke said, "Investors have shown considerable interest in the MLP market, and the iPath S&P MLP ETN will provide exposure in an exchange-traded format."
Barclays US equity and funds solutions head Kevin Murphy added that the ETN provides potential for income as well as upside appreciation through index-linked exposure to US energy infrastructure-focused partnerships.
The newly debuted S&P MLP Index, which includes MLPs and publicly traded limited liability companies, has been developed to offer exposure to partnerships that are classified in the GICS Energy Sector and GICS Gas Utilities Industry.
iPath ETNs are senior, unsecured, unsubordinated debt securities issued by Barclays Bank, while Barclays Capital acts as the issuer’s agent. BlackRock’s broker dealer affiliate, BlackRock Investments helps in the promotion activity.
Barclays Bank offers retail banking, credit cards, corporate banking, and wealth and investment management services in the UK.