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Exchange-Traded Note (ETN)

Trading Term

An exchange-traded note (ETN) is a structured investment product that trades intraday like a stock. ETNs were first issued as unsecured debt securities by Barclays Bank PLC. ETNs differ from other types of bonds and notes in that ETN returns are based on the performance of a market index minus applicable fees, no period coupon payments are distributed and no principal protections exists.

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