Barclays Bank will redeem the iPath Long Enhanced S&P 500 VIX Mid-Term Futures ETN. The move follows the expiry of its automatic termination date on July 1, 2011.

Automatic termination occurs when the intraday indicative note value of the notes falls below the automatic termination level of $10. The holders of the notes will get a cash payment equal to the automatic redemption value.

Click here for the release from Business Wire.