Credit Suisse plans share split for notes linked to S&P 500 VIX short-, mid-term futures benchmarks

By Susanna Moon

Chicago, June 16 - Credit Suisse AG announced that it will implement a 10-for-1 split of its VelocityShares Daily Inverse VIX Short Term exchange-traded notes linked to the S&P 500 VIX Short-Term Futures index.

Credit Suisse also implemented an 8-for-1 split of its VelocityShares Daily Inverse VIX Medium Term ETN linked to the S&P 500 VIX Mid-Term Futures index.

The share splits will be effective on June 27.

The short-term futures index (NYSE Arca: XIV) closed at $159.76 on June 15, and the mid-term futures index (NYSE Arca: ZIV) closed at $130.91.

The record date for the split of each of the ETNs will be the close of business ET on June 23. The payment date will be June 24.

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