New Securities Based on Goldman Sachs Crude Oil Index Began Trading
NYSE Lists Latest Barclays iPathSM
NEW YORK , August 17, 2006 –The New York Stock Exchange began trading Barclays Bank PLC’s newest iPathSM Exchange Traded Notes (iPathSM ETNs) linked to the performance of the Goldman Sachs Crude Oil Total Return Index under the symbol OIL, on August 16.
iPathSM ETNs are securities linked to the performance of a market index. They are designed to provide investors with convenient access to the returns of market benchmarks, less investor fees, with easy transferability. The latest iPathSM ETN is linked to the GSCI® Crude Oil Total Return Index, a subindex of the Goldman Sachs Commodity Index.
The iPathSM ETNs linked to GSCI® Crude Oil Total Return Index offers investors exposure to the returns potentially available through an unleveraged investment in West Texas Intermediate (WTI) crude oil futures plus the Treasury Bill rate of interest that could be earned on funds committed to the trading of the underlying contracts. iPath ETNs will have a 30-year maturity. Barclays Bank PLC is the issuer, Barclays Capital Inc. is the issuer's agent and Barclays Global Investors Services is the promoter of iPath ETNs to intermediaries.
In June, Barclays Bank PLC launched the first two iPathSM ETNs: linked to the GSCI® Total Return Index (NYSE: GSP) and linked to Dow Jones-AIG Commodity Index Total ReturnSM (NYSE: DJP) on the NYSE. Similarly, these iPath ETNs each have a 30-year maturity. Barclays Bank PLC is the issuer, Barclays Capital Inc. is the issuer's agent and Barclays Global Investors Services is the promoter of iPath ETNs to intermediaries.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The NYSE is the world’s largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities. On June 30, 2006 , our listed operating companies represent a total global market capitalization of over $ 22.6 trillion. In the second quarter 2006, on an average trading day, almost 1.8 billion shares, valued at over $68.5 billion, were traded on the NYSE.
NYSE Arca operates the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca is also an exchange for trading equity options. NYSE Arca’s trading platform provides customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
For more information on NYSE Group, go to: www.nyse.com. Information contained on our website does not constitute a part of the prospectus relating to the proposed offering.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this article may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on NYSE Group’s current expectations and involve risks and uncertainties that could cause NYSE Group’s actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Actual results may differ materially from those expressed or implied in the forward-looking statements. Factors that could cause NYSE Group’s results to differ materially from current expectations include, but are not limited to: NYSE Group’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Group’s Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Group that the projections will prove to be correct. We undertake no obligation to release any revisions to any forward-looking statements.
No Sponsorship or Advice
The securities described in this press release are not sponsored, offered or sold by NYSE Group, Inc. or any of its affiliates. NYSE Group, Inc. does not make any representation regarding any such securities or the advisability of investing in any such securities. The descriptions of the securities described in this press release are not official descriptions. Investors are urged to consult their investment advisors and the respective prospectuses for such securities.