Products

Commodities – RMB Coal ETN

The RMB Coal ETN offers investors a way to invest directly in coal and is an alternative to investing in a coal-producing company. Until now, Coal Exchange Traded Products (ETPs) have only invested in companies linked to coal mining, equipment or transportation and have not offered a direct investment into coal via physical coal or coal futures. The RMB Coal ETN is the first of its kind in that it invests in coal futures traded on ICE.

The RMB Coal ETN is the second industrial energy product to be launched on the RMB ETN platform. It is based on the RMB Coal Index, which is calculated and published daily and references:

The Richards Bay Coal Futures Contract (weighted average of the second and third month contracts)
The performance includes the change in the price of the futures contracts — the “roll yield” (positive or negative) due to rolling over contracts from one month to another
Interest is returned on the full investment amount at US T-bill rates
The index deducts a flat investor fee of 95 basis points (annual fee, accrued daily)
The index is translated into ZAR daily using the 4pm USD/ZAR rate

One ETN unit gives exposure to one metric tonne of coal. The RMB Coal ETN has a term of 5-years.

Download RMB Coal ETN factsheet	[ 815 KB ]
Download RMB Coal ETN pricing supplement	[ 279 KB ]

RMB OIL ETN		RMB COAL ETN
Market price*	689.21	[i]	Market price*	724.29
Underlying index price*	678.00	[i]	Underlying index price*	712.81


NOTE: *Close of business 15/05/2012.
Market Prices above are calculated as the mid of the best bid and offer. They are delayed and are purely indicative.