Credit Suisse adjusts caps for two VelocityShares Natural Gas ETNs

By Marisa Wong

Morgantown, W.Va., Aug. 7 – Credit Suisse AG, Nassau Branch updated 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 an 424B2 filing with the Securities and Exchange Commission.

The maximum amount of VelocityShares 3x Long Natural Gas ETNs (NYSE Arca: UGAZ, Cusip: 22539T324) is now $375 billion, or 60 million notes with a par amount of $6,250 each.

The maximum number of VelocityShares 3x Inverse Natural Gas ETNs (NYSE Arca: DGAZ, Cusip: 22542D373) is now $4,606,250,000, or 18,425,000 notes with a par amount of $250 each.

The maximum amounts were increased from $187.5 billion and decreased from $5 billion, respectively, as set according to a pricing supplement dated June 30.

As of July 28, there were issued and outstanding $291,677,487,500 of the long natural gas ETNs and $912.5 million of the inverse natural gas ETNs.

© 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.