Exchange Traded Note (ETN)

Exchange-traded notes (ETNs) are unsecured, unsubordinated debt securities that are issued by an underwriting bank. ETNs are typically designed to provide investors with the return of a specific market benchmark. ETNs are not equities, funds, or futures, but do trade on exchanges like stocks and ETFs. Unlike ETFs, ETNs do not own any of the underlying assets of the indices or benchmarks they are designed to track.

This is a definition, not a recommendation. Options carry risk and can expire worthless. See how the desk actually trades at TrueTrader.