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RBS launches first Rogers exchange-traded notes in the U.S.
November 15, 2012 / 7:21 PM / 5 years ago

RBS launches first Rogers exchange-traded notes in the U.S.

* Five ETNs in ags, energy, base, precious metals, commods
basket
    * First Rogers funds in the U.S., similar products listed in
Europe

    NEW YORK, Nov 15 (Reuters) - Royal Bank of Scotland 
said on Thursday it is launching five commodities
exchange-traded products to track the Rogers International
Commodity Index (RICI) Enhanced Indices, marking their first
foray in the United States.
    The five exchange-traded notes (ETNs) track commodities in
the following sectors: agriculture, energy, industrial metals,
precious metals, and a commodities basket linked to the
performance of the underlying indices, which were developed by
RBS and well-known commodities investor Jim Rogers in 2007.
    The notes are being listed on the New York Stock Exchange
Arca trading platform which hosts most U.S. exchange-traded
products.
    On Tuesday, Rogers told Reuters that he sees the NYSE Liffe
 market for robusta coffee futures nearly doubling in
size as demand grows, with Asian consumers quaffing more of the
traditionally Western drink. 
    The notes are the first in the United States to track the
RICI Enhanced Indices, a RBS spokesman said. Around two dozens
similar Rogers funds are trading at major stock exchanges
throughout Europe, Reuters data shows.
    The ETNs provide exposure to futures contracts with varying
maturities, and seek to maximize returns when there are
significant price differences between near-dated and
future-dated commodity contracts, the U.K. bank said in a
statement.
    Unlike exchange-traded funds ETFs which are backed by
physical commodities, ETNs are unsecured and unsubordinated
obligations and are fully guaranteed by the good faith of the
issuer.
    
                 Fund Name                  Ticker Symbols
 RBS Rogers Enhanced Commodity ETN                     
 RBS Rogers Agriculture ETN                            
 RBS Rogers Enhanced Energy ETN                        
 RBS Rogers Enhanced Industrial Metals ETN             
 RBS Rogers Enhanced Precious Metals ETN

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