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Credit Suisse adjusts caps for VelocityShares Gold, Silver ETNs
By Marisa Wong
Morgantown, W.Va., July 19 – Credit Suisse AG, Nassau Branch updated the offering amounts for three 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 decreased to $366.25 million, or 7,325,000 million notes with a par amount of $50 each, from $455 million. As of June 29, there were 12,890,620 ETNs, or $644,531,000 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 $14,087,500,000, or 28,175,000 notes with a par amount of $500 each, from $9.1 billion. As of June 29, there were 37,792,460 ETNs, or $18,896,230,000 principal amount – reflecting a 1-for-10 reverse split – 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 $168.75 million, or 3,375,000 notes with a par amount of $50 each, from $186.25 million. As of June 29, there were 513,940 ETNs, or $25,697,000 principal amount, 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) remains at $72.5 million, or 1.45 million notes with a par amount of $50 each. As of June 29, there were 379,010 ETNs, or $18,950,500 principal amount, issued and outstanding.
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