Credit Suisse updates caps for two VelocityShares Natural Gas ETNs

Chicago, Sept. 3 – Credit Suisse AG, Nassau Branch amended the maximum amounts of two series of VelocityShares exchange-traded notes due Feb. 9, 2032 linked to the S&P GSCI Natural Gas Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

The maximum amount of VelocityShares 3x Long Natural Gas ETNs (NYSE Arca: UGAZ, Cusip: 22539T217) is now $3,010,312,500,000, or 48,165,000 million notes with a par amount of $62,500 each.

The maximum number of VelocityShares 3x Inverse Natural Gas ETNs (NYSE Arca: DGAZ, Cusip: 22542D282) is now $20,099,000,000, or 4,019,800 notes with a par amount of $5,000 each.

As of Aug. 2, there were issued and outstanding 46,953,510, or $2,934,594,375,000 principal amount, of the long natural gas ETNs and 1,222,418, or $6,112,090,000 principal amount, of the inverse natural gas ETNs.

As previously disclosed, Credit Suisse implemented three reverse splits of its long natural gas ETNs, the most recent of which became effective Dec. 20, 2017, and two reverse splits of its inverse natural gas ETNs, the most recent of which became effective Nov. 26. The ETNs originally had a face value of $50 each.

Following the latest respective reverse splits, the Cusip number for the long natural gas ETNs was changed to 22539T217 from 22539T324 and the Cusip number for the inverse natural gas ETNs was changed to 22542D282 from 22542D373.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.