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Barclays VIX ETN Turmoil Looks Linked to $591 Million Note Error

  • Bank announces financial hit after major issuance overshoot
  • VXX is pricing 24% higher than assets following sales halt

Wall Street traders are finally making sense of the turmoil rocking two popular exchange-traded notes after Barclays Plc abruptly suspended sales and issuance earlier this month. 

On Monday, the bank revealed it had made a $591 million blunder by exceeding the amount of structured notes and ETNs it was permitted to issue in a move labeled by one analyst as “bizarre.”