The cyclic pathway is part of the light reactions of photosynthesis, specifically the cyclic photophosphorylation process. In this process, light energy is used to drive the movement of electrons through the electron transport chain in the thylakoid membranes of the chloroplasts. The electrons are recycled through the system in a cycle, which ultimately leads to the production of ATP but not NADPH.
The key product of the cyclic pathway is ATP. This is because the electrons flow in a cycle and are used to pump protons (H$^+$) across the membrane, which generates a proton gradient used by ATP synthase to produce ATP. NADPH is not generated in this pathway; it is produced in the non-cyclic pathway (Z-scheme) of photosynthesis.
Thus, ATP is the correct answer, as it is the main product of the cyclic photophosphorylation pathway.