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Prospect News home > News index > List of issuers S > Headlines for S&P GSCI Gold Index ER > News item
Published on 6/19/2020 in the Prospect News Structured Products Daily.

Credit Suisse adjusts caps for VelocityShares Gold, Silver ETNs

By Wendy Van Sickle

Columbus, Ohio, June 19 – 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: 22542D316) was increased to $360.5 million, or 721,000 notes with a par amount of $500 each, from $160 million. As of June 10, there were 1,450,530 ETNs, or $725,265,000 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: 22542D290) was increased to $18.58 billion, or 3,716,000 notes with a par amount of $5,000 each, from $11,305,000,000. As of June 10, there were 6,228,220 ETNs, or $31,141,100,000 principal amount – reflecting a previous 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) decreased to $80 million, or 1.6 million notes with a par amount of $50 each, from $91.25 million. As of June 10, there were 829,010 ETNs, or $41,450,000 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 increased to $268.75 million, or 5,375,000 notes with a par amount of $50 each, from $85.5 million. As of June 10, there were 2,420,940 ETNs, or $121,047,000 principal amount, issued and outstanding.


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