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Credit Suisse to redeem Velocity Shares Daily Inverse VIX on Feb. 21
By Susanna Moon
Chicago, Feb. 6 – Credit Suisse AG said it expects to call its Velocity Shares Daily Inverse VIX Short Term ETNs due to an “acceleration event.”
The notes are callable because the intraday indicative value of the notes on Feb. 5 was equal to or less than 20% of the previous day’s closing indicative value, which constitutes an acceleration event, according to a company announcement.
The redemption notice will be issued by Feb. 15 with an acceleration date set for Feb. 21.
The last day of trading for the notes is expected to be Feb. 20.
On Feb. 2, the closing indicative value was $108.3681.
The notes (Cusip: 22542D795) are linked to the S&P 500 VIX Short-Term Futures index.
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