iPath Pure Beta Lead ETN
LEDD
New York Stock Exchange Arca- -
USD
- -
- -
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
FRC
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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
- Apr 21, 2011
- Website
- barclaysinvestments.co.uk
- Similar Companies
- Business
- iPath Pure Beta Lead ETN (LEDD) is an exchange-traded note issued by Barclays Bank PLC that provides exposure to lead commodity futures returns via the Barclays Lead Pure Beta TR Index; this unsecured senior debt obligation tracks a rules-based futures contract selection methodology designed to mitigate contango and backwardation effects by dynamically rolling into optimal lead futures contracts each month. The ETN offers investors a cash payment at maturity, early redemption, or issuer call based on the index performance, net of a 0.75% annual fee; it targets institutional and retail investors seeking pure beta commodity exposure without physical delivery risks. Launched in April 2011 as part of Barclays' suite of 18 Pure Beta commodity ETNs, the product operates in the U.S. market on NYSE Arca, with Barclays Bank PLC headquartered in London serving as issuer and Barclays Capital Inc. as distributor. Barclays continually manages the iPath ETN portfolio through issuer calls and redemptions; the LEDD series, alongside other Pure Beta products, faced low liquidity and was noted as out of business by April 2018, with ongoing tender offers and consent solicitations enabling amendments for discretionary full redemptions. Recent major changes include multiple redemption announcements, such as 21 iPath ETNs redeemed in 2023, four series in June 2025, and 18 series targeted for June 2024 (extended into 2025 processes), reflecting Barclays' strategy to wind down underperforming legacy ETNs via cash tender offers and indenture modifications. No new issuances have occurred since initial launch, and LEDD trades over-the-counter with delisting risks, marked as potentially inactive on major platforms. The iPath ETN program shifted to ipathetn.barclays for disclosures following domain changes.