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VelocityShares 2x Inverse Palladium ETN S&P GSCI Palladium Index ER due 10/14/31
Ticker Symbol: IPAL* CUSIP: 22542D613 Exchange: NYSEA
* NOTE: This security is no longer trading as of 12/31/2012
Company's Online Profile
BUSINESS: VelocityShares 2x Inverse Palladium Exchange Traded Note (ETN) Linked to the S&P GSCI Palladium Index ER due October 14, 2031 are senior, unsecured debt securities, medium-term notes, issued by Credit Suisse AG acting through its Nassau Branch. INVESTMENT OBJECTIVE: The VelocityShares 2x Inverse Palladium ETN Linked to the S&P GSCI Palladium Index ER seeks to provide inverse exposure to two times (2x) the daily performance of the S&P GSCI Palladium Index ER plus a daily accrual equal to the return that could be earned on a notional capital reinvestment at the three month U.S. Treasury rate as reported on Bloomberg under ticker SPGSPAP, less the daily investor fee. This ETN should be purchased by knowledgeable investors who understand the potential consequences of investing in the Index and of seeking daily compounding leveraged inverse investment results. Investors should actively monitor their investments as frequently as daily. INDEX DESCRIPTION: The S&P GSCI Palladium Index ER is the excess return version of a sub-index of the S&P GSCI Index and represents only the palladium component of, and is composed entirely of palladium futures contracts included in the S&P GSCI Index. The S&P GSCI is an index that tracks a world production weighted basket of principal non-financial commodities that satisfy specified criteria and represents the return of a portfolio of commodity futures contracts included in the S&P GSCI. The S&P GSCI is designed to be a measure of the performance over time of the markets for these commodities. The fluctuations in the value of the S&P GSCI are intended generally to correlate with changes in the prices of such physical commodities in global markets. The ETNs do not represent an investment in physical palladium. RETURNS AND MATURITY: The return on the Securities may be positive or negative, and is directly linked to the performance of the S&P GSCI Palladium Index ER, which in turn is linked to the performance of futures contracts on palladium, which is based on a variety of market and economic factors, interest rates in the markets and economic, financial, political, regulatory, judicial or other events that affect the markets generally. Because the Index is an excess return index, it measures the hypothetical returns on an uncollateralized investment in futures contracts. If your ETNs have not been previously redeemed or accelerated, on the Maturity Date, October 14, 2031, you will receive for each $50 stated principal amount of your ETNs a cash payment equal to the applicable Closing Indicative Value on the Final Valuation Date. REDEMPTION AND FEES: If you elect to offer your ETNs for redemption, and the requirements for acceptance by us are met, you will receive a cash payment per ETN on the Early Redemption Date equal to the Early Redemption Amount. You must offer for redemption at least 25,000 ETNs, or an integral multiple of 25,000 ETNs in excess thereof, at one time in order to exercise your right to redeem your ETNs on any Early Redemption Date. The investor fee is 1.35% per annum accrued on a daily basis. For calculations of fees and any further information on this ETN click on the Link to IPO Prospectus provided.
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Notes: Credit Suisse AG announced today that it will redeem four ETNs. Credit Suisse AG will accelerate for early redemption its VelocityShares™ 2x Long Palladium ETNs ("LPAL"), 2x Inverse Palladium ETNs ("IPAL"), 2x Long Copper ETNs ("LCPR") and 2x Inverse Copper ETNs ("SCPR"), in each case on December 31, 2012.
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IPO - 10/14/2011 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $5.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: VLS Securities LLC, 19 Old Kings Highway S, Darien, CT 06820 |
| Main Phone Number |
203-992-4301 |
| Fax Number |
Not Available |
| Investor Contact
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877-583-5624
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| Toll Free Phone Number |
877-583-5624 |
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