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Credit Suisse adjusts caps for six VelocityShares VIX Short Term ETNs
By Marisa Wong
Morgantown, W.Va., May 16 – Credit Suisse AG, Nassau Branch updated the maximum amounts of six series of VelocityShares exchange-traded notes due Dec. 4, 2030, three of which are linked to the S&P 500 VIX Short-Term Futures Index and the other three linked to the S&P 500 VIX Mid-Term Futures index, according to an 424B2 filing with the Securities and Exchange Commission.
The maximum amount of VelocityShares Daily Inverse VIX Short Term ETNs (NYSE Arca: XIV, Cusip: 22542D795) was lowered to $2,658,000,000, or 265.8 million notes with a par amount of $10 each.
The maximum amount of VelocityShares Daily Inverse VIX Medium Term ETNs (NYSE Arca: ZIV, Cusip: 22542D829) was lowered to $11,249,875, or 899,990 notes with a par amount of $12.50 each.
The maximum amount of VelocityShares VIX Short Term ETNs (NYSE Arca: VIIX, Cusip: 22542D365) was increased to $3 billion, or 600,000 notes with a par amount of $5,000 each.
The maximum amount of VelocityShares VIX Medium Term ETNs (NYSE Arca: VIIZ, Cusip: 22542D787) was decreased to $90 million, or 900,000 notes with a par amount of $100 each.
The maximum amount of VelocityShares Daily 2x VIX Short Term ETNs (NYSE Arca: TVIX, Cusip: 22542D357) was increased to $301,227,500,000,000, or 12,049,100 notes with a par amount of $25 million each.
The maximum amount of VelocityShares Daily 2x VIX Medium Term ETNs (NYSE Arca: TVIZ, Cusip: 22542D340) was increased to $2.5 billion, or 500,000 notes with a par amount of $5,000 each.
As of May 15, there were issued and outstanding $95,688,800 of the Inverse VIX Short Term ETNs, $19.85 million of the Inverse VIX Medium Term ETNs, $2,920,950,000 of the Long VIX Short Term ETNs, $14 million of Long VIX Medium Term ETNs, $182,089,750,000,000 of the 2x Long VIX Short Term ETNs and $539.5 million of the 2x Long VIX Medium Term ETNs.
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