Index Universe reports that Barclays filed to launch a third exchange traded note, which will track the Goldman Sachs Crude Oil Total Return Index.  The index tracks the value of a futures based exposure to the price of crude.  The ETN would trade under the symbol OIL.

Barclays launched the first ETNs in June.  They are a publicly traded, index-linked debt instrument similar to ETFs.  However when buying an ETN, you are buying a senior debt note from Barclays and are exposed to credit risk.  ETNs can be sold on the stock exchange before they become due. 

The two ETNs launched in June are the iPath Goldman Sachs Commodity Index (GSP), which already has over $40 million in assets, and the iPath Dow Jones AIG Commodity Index (DJP) with over $130 million in assets.

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