U.K.’s Barclays Bank will liquidate an iPath VIX exchange-traded note, The Wall Street Journal reports. The iPath Inverse S&P 500 Short-Term Futures ETN will be redeemed as it dropped below $10 per share on September 12. The trading has been stopped on the NYSE Arca. The move is triggered by an “automatic termination” clause in the ETN’s prospectus. Investors left holding the ETN through September 19 will be paid $11.8024 per note in cash. The ETN moves in a direction opposite to that of the CBOE Market Volatility Index.
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