Credit Suisse to delist, stop issuing two ETNs linked to oil index

By Angela McDaniels

Tacoma, Wash., Nov. 16 – Credit Suisse AG, London Branch plans to delist and suspend further issuances of its VelocityShares 3x Inverse Crude Oil exchange-traded notes due 2032 and VelocityShares 3x Long Crude Oil ETNs due 2032 linked to the S&P GSCI Crude Oil Index Excess Return, according to company news release.

The company said it decided to delist the ETNs with a view to better aligning its product suite with its broader strategic growth plans.

Effective Dec. 9, the ETNs will no longer be listed for trading and Credit Suisse will suspend further issuances of them.

Although it is not currently accelerating the ETNs at its option, Credit Suisse continues to have the right to do so.

Investors can continue to exercise their put options prior to and following the delisting.

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