iPath Bloomberg Cotton Subindex Total Return(SM) ETN
BALTF
Other OTC- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 50 Hudson Yards New York NY United States of America 10001
- IPO Date
- Jun 25, 2008
- CIK
- 0000312070
- Similar Companies
- Business
- iPath Bloomberg Cotton Subindex Total Return(SM) ETN (BALTF) is an exchange-traded note issued by Barclays Bank PLC that provides exposure to the Bloomberg Cotton Subindex Total Return, which tracks the performance of cotton futures contracts as a benchmark for the cotton commodity market; it offers investors leveraged total return exposure to cotton price movements without direct ownership of physical commodities or futures. The ETN, structured as an unsecured senior debt obligation of Barclays Bank PLC, matures on January 23, 2048, or earlier upon issuer call or redemption, and is designed for institutional and retail investors seeking commodity-linked returns with daily indicative value calculations based on index levels net of investor fees. Barclays Capital Inc. serves as the distributor, with the product domiciled in the United Kingdom and historically traded on NYSE Arca. The ETN's core offering focuses solely on the Bloomberg Cotton Subindex Total Return(SM), comprising futures contracts on cotton across No. 2 cotton varieties, reflecting roll-adjusted performance to mitigate contango effects in commodity futures markets. It targets investors in the commodities sector, particularly those interested in agricultural subindices, without diversification into other assets or sectors. Geographically, it operates globally through U.S. exchanges, serving a worldwide investor base via secondary market trading. Founded as part of the iPath ETN series launched by Barclays in the mid-2000s, with this specific Series B issuance dated January 17, 2018, and headquartered at Barclays' principal offices in London, United Kingdom. In a major recent development, Barclays announced on June 14, 2024, its exercise of the issuer call option to redeem BALTF in full on June 28, 2024 (Valuation Date: June 21, 2024), following a December 2023 cash tender offer and consent solicitation that secured requisite holder consents to amend the indenture; this action, part of a broader redemption of 18 iPath ETNs including BALTF (CUSIP/ISIN: 06739H271/US06739H2711), eliminates holder redemption rights and mandates cash settlement based on the Closing Indicative Note Value, with no further trading expected post-delisting. This strategic wind-down reflects Barclays' ongoing portfolio rationalization of legacy iPath commodity ETNs, enabling investors to sell prior to redemption or hold for the cash payout. No additional subsidiaries or parent relationships apply beyond Barclays Bank PLC as issuer.