iPath Long Enhanced MSCI Emerging Markets Index ETN (EMLB) is an exchange-traded note issued by Barclays Bank PLC that provides investors with leveraged exposure to the performance of the MSCI Emerging Markets Net Total Return Index. The ETN offers 2x daily leveraged participation in the index, which tracks the equity performance of large- and mid-cap companies across emerging market countries including Brazil, China, India, South Korea, Taiwan, and South Africa; it delivers a cash payment at maturity or upon optional redemption or issuer call based on the index's total return, subject to an investor fee and automatic redemption if the indicative value falls to or below $25 per note. Barclays Bank PLC, headquartered in London, United Kingdom, and founded in 1690, structures and issues the iPath series of ETNs covering asset classes such as commodities, equities, volatility, MLPs, and sustainable investing through its investment banking arm.
The ETN targets institutional and retail investors seeking enhanced returns from emerging markets equities, with trading primarily on U.S. exchanges and exposure to global emerging economies spanning Asia, Latin America, and other regions. As part of Barclays' broader iPath ETN platform, EMLB operates without principal protection, linking payouts to the volume-weighted average price level of the underlying index rather than its closing level.
In recent developments, Barclays exercised its issuer call right to redeem multiple iPath ETNs, including announcements in June 2025 for four series and ongoing tender offers and consent solicitations for amendments to note terms, such as those concluded in September 2025 where Barclays repurchased over $998,000 in principal across other iPath ETNs like BWVTF and JJETF but failed to secure sufficient consents for proposed changes. The ticker for EMLB has transitioned to BARC:LN, reflecting a shift potentially tied to Barclays' ongoing management of its ETN portfolio amid suspensions and resumptions of issuances for certain iPath products. These actions align with Barclays' strategic adjustments in structured products, including full redemptions of legacy series to streamline offerings.