iPath Bloomberg Cocoa Subindex Total Return(SM) ETN
NIB
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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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.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 50 Hudson Yards New York NY United States of America 10001
- IPO Date
- Jan 2, 2009
- CIK
- 0000312070
- Similar Companies
- Business
- iPath Bloomberg Cocoa Subindex Total Return(SM) ETN (NIB) is an exchange-traded note (ETN) issued by Barclays Bank PLC that provides investors with exposure to the performance of the Bloomberg Cocoa Subindex Total Return, which tracks cocoa futures contracts; the product seeks to replicate the total return of the underlying index, comprising cocoa commodity derivatives such as futures, less the investor fee, with a scheduled maturity date of June 24, 2038. Launched on June 24, 2008, the ETN is domiciled in the United Kingdom and primarily trades on U.S. exchanges, targeting investors seeking leveraged or direct commodity exposure in the agricultural sector without physical ownership of cocoa. Barclays Bank PLC serves as both issuer and principal for the iPath series ETNs, with Barclays Capital Inc. acting as distributor, and the product operates within the broader commodities-focused segment, focusing on single-commodity risk rather than diversified portfolios. The ETN's core offering centers on cocoa subindex tracking via futures-based derivatives, providing leveraged total return exposure adjusted for fees; it features a single holding representing 100% of assets in the index, emphasizing volatility tied to cocoa supply dynamics, particularly from West Africa. No dividends or principal protection apply, positioning it as a high-risk instrument for institutional and retail investors in commodities markets. In a major recent development, Barclays Bank PLC announced on June 12, 2025, its exercise of the issuer call option to redeem in full all outstanding shares of the NIB ETN series, alongside three other iPath ETNs, on the Redemption Date of June 25, 2025, following a cash tender offer and consent solicitation that amended the indenture to enable full discretionary redemption. The Valuation Date was set for June 17, 2025, with holders receiving a cash payment equal to the Closing Indicative Note Value on that date, suspending further holder redemptions and allowing sales in the secondary market prior to redemption; this follows prior redemption events for NIB in June 2023, reflecting Barclays' ongoing portfolio rationalization of legacy iPath ETNs. No new product launches, acquisitions, or strategic expansions specific to NIB have been reported in the last 1-2 years, with operations centered in global commodity markets accessible via U.S. exchanges.