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Exchange traded notes |
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Exchange traded notes. Exchange traded notes (ETNs) are debt securities issued by a financial institution, listed on a stock exchange, and traded in the secondary market. Unlike regular bonds, there are no periodic interest payments, and your principal isn't protected. So you could lose some of or all the amount you invest. You can sell your ETN in the secondary market at its current price or hold it until maturity, though that may be 30 years in the future. The price in the secondary market is determined by supply and demand, the current performance of the index, and the credit rating of the ETN issuer. At maturity, the issuer pays a return linked to the performance of the market index, such as a commodity index, to which the ETN is linked, minus the issuer's annual fee. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Not that there's nothing new out there: 57 exchange traded notes were launched in the first half of 2008. Viewed as economic cousins of ETFs, exchange traded notes ("ETNs") are structured notes representing securities issued by corporations, typically financial institutions. NYSE: GS) announced today the quarterly income distribution for the Claymore CEF Index-Linked GS Connect Exchange Traded Notes (NYSE Arca: GCE). |
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