List of Credit Suisse ETNs that are being delisted
Which Credit Suisse ETNs are being delisted?
The following nine Credit Suisse AG exchange-traded notes (ETNs) will be delisted effective July 12, 2020. Those listed on the Nasdaq® will trade through Thursday, July 2, and those listed on the NYSE® Arca will trade through Friday, July 10. Afterward, they will no longer trade on any national securities exchange. If they trade at all, it may be in the over-the-counter (OTC) markets.
In addition, Credit Suisse AG suspended further issuances of the NYSE Arca-listed ETNs on June 22, 2020, and will suspend further issuances of the Nasdaq-listed ETNs on July 3, 2020.
Nasdaq-listed
Trading stops after July 2; no new issuances as of July 3
Why Credit Suisse is delisting some ETNs
"Most of the ETNs being delisted are leveraged, which means they use derivatives to amplify returns of the securities they track. Those products have come under scrutiny in recent months as the coronavirus roiled markets. Credit Suisse’s move followed similar decisions by UBS Group AG and Citigroup Inc. to liquidate several of their leveraged commodity ETNs, while other issuers have opted to reduce leverage" - Bloomberg.
Description | Symbol | |
· VelocityShares™ 3x Long Gold ETNs linked to the S&P GSCI® Gold Index ER due October 14, 2031 | UGLD | |
· VelocityShares™ 3x Long Silver ETNs linked to the S&P GSCI® Silver Index ER due October 14, 2031 | USLV | |
· VelocityShares™ 3x Inverse Gold ETNs linked to the S&P GSCI® Gold Index ER due October 14, 2031 | DGLD | |
· VelocityShares™ 3x Inverse Silver ETNs linked to the S&P GSCI® Silver Index ER due October 14, 2031 | DSLV | |
· VelocityShares™ Daily Inverse VIX Medium Term ETNs linked to the S&P 500 VIX Mid-Term Futures™ Index due December 4, 2030 | ZIV | |
· VelocityShares™ VIX Short Term ETNs linked to the S&P 500 VIX Short-Term Futures™ Index due December 4, 2030 | VIIX | |
· VelocityShares™ Daily 2x VIX Short Term ETNs linked to the S&P 500 VIX Short-Term Futures™ Index due December 4, 2030 | TVIX |
NYSE Arca-listed
Trading stops after July 10; no new issuances as of June 22
Description | Symbol | |
· VelocityShares™ 3x Long Natural Gas ETNs linked to the S&P GSCI® Natural Gas Index ER due February 9, 2032 | UGAZ | |
· VelocityShares™ 3x Inverse Natural Gas ETNs linked to the S&P GSCI®Natural Gas Index ER due February 9, 2032 | DGAZ | 22542D282 |
For more information, see the Credit Suisse media release or contact Credit Suisse directly.
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