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Heads up, Popular Volatility ETFs being delisted early July

ZIV VIIX TVIX

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#1 Darris

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Posted 22 June 2020 - 02:01 PM

NEW YORK, June 22, 2020 /PRNewswire/ -- Credit Suisse AG announced today its intention to delist and suspend further issuances of the following Exchange Traded Notes (the "ETNs"):
 
ETN
 
Ticker
 
Exchange
 
CUSIP
 
VelocitySharesTM 3x Long Gold ETNs linked to the S&P GSCI® Gold Index ER due October 14, 2031
 
UGLD
 
The Nasdaq Stock Market
 
22542D316
 
VelocitySharesTM 3x Long Silver ETNs linked to the S&P GSCI® Silver Index ER due October 14, 2031
 
USLV
 
The Nasdaq Stock Market
 
22542D290
 
VelocitySharesTM 3x Inverse Gold ETNs linked to the S&P GSCI® Gold Index ER due October 14, 2031
 
DGLD
 
The Nasdaq Stock Market
 
22542D670
 
VelocitySharesTM 3x Inverse Silver ETNs linked to the S&P GSCI® Silver Index ER due October 14, 2031
 
DSLV
 
The Nasdaq Stock Market
 
22542D654
 
VelocitySharesTM 3x Long Natural Gas ETNs linked to the S&P GSCI® Natural Gas Index ER due February 9, 2032
 
UGAZ
 
NYSE Arca
 
22539T183
 
VelocitySharesTM 3x Inverse Natural Gas ETNs linked to the S&P GSCI® Natural Gas Index ER due February 9, 2032
 
DGAZ
 
NYSE Arca
 
22542D282
 
VelocityShares™ Daily Inverse VIX Medium Term ETNs linked to the S&P 500 VIX Mid-Term Futures™ Index due December 4, 2030
 
ZIV
 
The Nasdaq Stock Market
 
22542D829
 
VelocityShares™ VIX Short Term ETNs linked to the S&P 500 VIX Short-Term Futures™ Index due December 4, 2030
 
VIIX
 
The Nasdaq Stock Market
 
22542D266
 
VelocityShares™ Daily 2x VIX Short Term ETNs linked to the S&P 500 VIX Short-Term Futures™ Index due December 4, 2030
 
TVIX
 
The Nasdaq Stock Market
 
22542D258
 
Only the ETNs listed in the table above are affected by this announcement. For purposes of this announcement, the VelocitySharesTM 3x Long Natural Gas ETNs linked to the S&P GSCI® Natural Gas Index ER due February 9, 2032 and the VelocitySharesTM 3x Inverse Natural Gas ETNs linked to the S&P GSCI® Natural Gas Index ER due February 9, 2032, which are both listed on the NYSE Arca, shall be referred to as the "NYSE ETNs". The remainder of the ETNs listed in the table above, which are listed on The Nasdaq Stock Market, shall be referred to as the "Nasdaq ETNs".
 
As part of its continuing effort to monitor and manage its suite of exchange traded notes, Credit Suisse AG has decided to delist the foregoing ETNs with a view to better align its product suite with its broader strategic growth plans.  Accordingly, Credit Suisse AG anticipates that (x) the NYSE ETNs will continue to trade on NYSE Arca up to and including July 10, 2020 and (y) the Nasdaq ETNs will continue to trade on The Nasdaq Stock Market up to and including July 2, 2020. The delisting of the ETNs will become effective on July 12, 2020.  In addition, Credit Suisse AG will suspend further issuances of the NYSE ETNs effective June 22, 2020, and will suspend further issuances of the Nasdaq ETNs effective July 3, 2020.
 
Following their delisting, the ETNs will remain outstanding, though they will no longer trade on any national securities exchange.  The ETNs may trade, if at all, on an over-the-counter basis.  Although it is not currently accelerating the ETNs at its option, Credit Suisse AG continues to have the right to do so, as described in the pricing supplement for the ETNs (the "Pricing Supplement"), and may choose to accelerate the ETNs at its option in the future, either together on the same date or each on a separate date, including shortly after the delisting.  Subject to the minimum redemption amount and other conditions, investors can continue to exercise their early redemption right with respect to the ETNs prior to, and following, the ETNs' delisting, pursuant to the terms of the ETNs as described in the Pricing Supplement. If investors wish to exercise their early redemption right, they and their broker must follow the procedures set forth in the Pricing Supplement, which can be accessed on the Securities and Exchange Commission website at www.sec.gov as follows:


#2 OEXCHAOS

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Posted 22 June 2020 - 03:38 PM

Thanks!

 

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#3 gm_general

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Posted 22 June 2020 - 05:01 PM

Why TVIX? Is there any equivalent that can match its performance?