Barclays introduces new iPath ETN

Barclays Bank today introduced an exchange-traded note based on the Chicago Board Options Exchange’s S&P 500 BuyWrite Index. The new ETN, part of the iPath family of Barclays’ unsecured obligations, is listed on the American Stock Exchange. The BuyWrite index tracks the total return of a hypothetical buy-write, or covered call, strategy on the S&P 500 index. Because it generates comparable returns to the S&P 500 but with lower risk, the buy-write strategy can help reduce volatility in an investor’s stock portfolio.