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VelocityShares 2X Inverse Platinum ETN S&P GSCI Platinum Index ER due 10/14/31
Ticker Symbol: IPLT* CUSIP: 22542D639 Exchange: NGM
* NOTE: This security is no longer trading as of 12/27/2013
Company's Online Profile
BUSINESS: VelocityShares 2x Inverse Platinum Exchange Traded Note (ETN) Linked to the S&P GSCI Platinum 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 Platinum ETN Linked to the S&P GSCI Platinum Index ER seeks to provide inverse exposure to two times (2x) the daily performance of the S&P GSCI Platinum 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 USB3MTA, 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 Platinum Index ER is the excess return version of a sub-index of the S&P GSCI Index and represents only the platinum component of, and is composed entirely of platinum 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 Platinum Index ER, which in turn is linked to the performance of futures contracts on platinum, 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: Dec. 6, 2013 // -- Credit Suisse announced today that it will redeem four ETNs. Credit Suisse AG will accelerate for early redemption its VelocityShares 2x Long Platinum ETNs (LPLT), 2x Inverse Platinum ETNs (IPLT), 3x Long Brent Crude ETNs (UOIL) and 3x Inverse Brent Crude ETNs (DOIL), in each case on December 27, 2013. Credit Suisse expects to deliver notice via The Depository Trust Company of the acceleration for early redemption of LPLT, IPLT, UOIL and DOIL no later than December 13, 2013. Investors will receive a cash payment per ETN equal to the arithmetic average of the closing indicative values of such ETNs during their respective accelerated valuation periods. The accelerated valuation periods in each case will be a period of five consecutive index business days, which is expected to be from December 17, 2013, to December 23, 2013. The acceleration date for each ETN is expected to be December 27, 2013, three business days after the last day of the respective valuation period. Accordingly, the last day of trading for each ETN will be December 26, 2013._______________ Nov. 18, 2013 -- Credit Suisse announced today that it has applied to transfer the listing of twelve of its VelocityShares exchange traded notes (ETNs) from NYSE Arca to The NASDAQ Stock Market. Credit Suisse intends to transfer this listing from NYSE Arca to The NASDAQ Stock Market for greater cost efficiencies. Subject to the approval by The NASDAQ Stock Market of the listing applications, Credit Suisse expects that the ETNs will begin trading on The NASDAQ Stock Market on December 2, 2013. The ETNs are expected to continue to trade on NYSE Arca on a listed basis until the transfer is completed. Following the transfer, each series of the transferred ETNs will retain the same CUSIP, exchange ticker symbol and indicative value ticker symbol.
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IPO - 10/14/2011 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $5.1 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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