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Credit Suisse adjusts caps for VelocityShares Gold, Silver ETNs
By Marisa Wong
Morgantown, W.Va., Feb. 16 – Credit Suisse AG, Nassau Branch updated the offering amounts for four of its exchange-traded notes, according to an amended 424B2 filing with the Securities and Exchange Commission.
The amount of VelocityShares 3x Long Gold ETNs due Oct. 14, 2031 linked to the S&P GSCI Gold Index ER (NYSE Arca: UGLD, Cusip: 22542D688) was increased to $550 million, or 11 million notes with a par amount of $50 each, from $157.5 million. As of Feb. 7, there were 10,065,620 ETNs, or $503,281,000 principal amount, issued and outstanding.
The amount of VelocityShares 3x Long Silver ETNs due Oct. 14, 2031 linked to the S&P GSCI Silver Index ER (NYSE Arca: USLV, Cusip: 22539T597) was decreased to $7.5 billion, or 15 million notes with a par amount of $500 each, from $9,262,500,000. As of Feb. 7, there were 23,042,460 ETNs, or $11,521,230,000 principal amount – reflecting a 1-for-10 reverse split – issued and outstanding.
The maximum amount of VelocityShares 3x Inverse Gold ETNs due Oct. 14, 2031 linked to the S&P GSCI Gold Index ER (NYSE Arca: DGLD, Cusip: 22542D670) was increased to $72.5 million, or 1.45 million notes with a par amount of $50 each, from $31.25 million. As of Feb. 7, there were 429,010 ETNs, or $21,450,500 principal amount, issued and outstanding.
The maximum amount of VelocityShares 3x Inverse Silver ETNs due Oct. 14, 2031 linked to the S&P GSCI Silver Index ER (NYSE Arca: DSLV, Cusip: 22542D654) was decreased to $193.75 million, or 3,875,000 notes with a par amount of $50 each, from $213.75 million. As of Feb. 7, there were 1,313,940 ETNs, or $65,697,000 principal amount, issued and outstanding.
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