About Barclays Bank PLC
This ETN was delisted after the market close 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. PGD offers laser-focused exposure to two Middle Eastern and three Asian currencies that currently peg or partially peg their currencies to the US dollar. The ETN tracks an equal-weighted basket that includes the Chinese renminbi, Hong Kong dollar, Singapore dollar, Saudi Arabian riyal and UAE dirham. As a result of the weighting scheme, its exposure to the niche Middle Eastern currencies is heavily biased when compared with our trade-weighted emerging currencies benchmark. As a currency ETN, gains and distributions are always taxed as ordinary income. The note is also directly exposed to the counterparty risk of Barclays Bank. To date, PGD hasn`t attracted much in assets and is highly illiquid, so investors are advised to seek the aid of the issuer (iPath) before placing any trades.