Barclays Plc’s famous paperwork <-bsp-bb-link state="{"bbDocId":"RB1TL7DWRGGB","_id":"00000182-a414-de36-a3d7-aede33c50000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">blunder is still causing trouble in one of its largest exchange-traded notes as stock volatility craters.
The $445 million iPath Series B S&P 500 VIX Short-Term Futures ETN (ticker <-rte-company state="{"_id":"00000182-a414-de36-a3d7-aede33c60000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">VXX) closed Friday at a record 33% premium to the net value of its assets, Bloomberg data show.
Barclays was forced to <-bsp-bb-link state="{"bbDocId":"R8T211DWX2PT","_id":"00000182-a414-de36-a3d7-aede33c70000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">suspend issuance of the product after it <-bsp-bb-link state="{"bbDocId":"R9G9GXDWLU72","_id":"00000182-a414-de36-a3d7-aede33c70001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">sold $15 billion more in structured notes and ETNs than it had permission for.
The bank has since resumed issuance of more than two dozen of the impacted products, yet VXX -- which allows traders to wager ...
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