About Barclays Bank PLC
This ETN was delisted on April 12, 2018, and now trades over-the-counter on the pink sheets. As a result, shareholders should anticipate ultra-wide spreads, minimal trading volumes, and prices well above or below NAVs. AYT offers a unique strategy for those interested in basket currency products. The ETN tracks an equal-weighted basket of the currencies of eight emerging market countries within the Asia-Pacific region. The Chinese renminbi, Taiwanese dollar and Philippine peso are a few examples of what`s included. AYT has some major drawbacksits price, structure, lack of adequate liquidity and high closure risk. Being a currency ETN, gains from selling shares are always taxed as ordinary income. The note also carries counterparty risk of Barclays Bank. To date, AYT hasn`t attracted significant assets and trades very poorly. For those seeking a focused equal-weighted play on emerging Asian currencies, AYT may still be a valid option. However, investors should trade using limit orders and liquidity providers whenever possible.