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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