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Credit Suisse increases caps for VelocityShares Gold, Silver ETNs
By Marisa Wong
Morgantown, W.Va., Sept. 26 – 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 $157.5 million, or 3.15 million notes with a par amount of $50 each, from $100 million. As of Sept. 15, there were 9,140,620 ETNs, or $457,031,000 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 increased to $9,262,500,000, or 18,525,000 notes with a par amount of $500 each, from $7.5 billion. As of Sept. 15, there were 18,667,460 ETNs, or $9,333,730,000 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 $31.25 million, or 625,000 notes with a par amount of $50 each, from $25 million. As of Sept. 15, there were 379,010 ETNs, or $18,950,500 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 increased to $213.75 million, or 4,275,000 notes with a par amount of $50 each, from $100 million. As of Sept. 15, there were 1,788,940 ETNs, or $ $89,447,000 principal amount, issued and outstanding.
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