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VelocityShares Daily Inverse VIX Short Term ETN S&P 500 VIX STF Index 12/4/2030
Ticker Symbol: XIV* CUSIP: 22542D795 Exchange: NGM
* NOTE: This security is no longer trading as of 2/20/2018
Company's Online Profile
BUSINESS: VelocityShares Daily Inverse VIX Short Term Exchange Traded Note (ETN) linked to the S&P 500 VIX Short-Term Futures Index due 12/4/2030 are senior, unsecured debt securities, medium-term notes, issued by Credit Suisse AG acting through its Nassau Branch. INVESTMENT OBJECTIVE: The VelocityShares Daily Inverse VIX Short Term ETN linked to the S&P 500 VIX Short-Term Futures Index's return is linked to the inverse of the daily performance of the S&P 500 VIX Short-Term Futures Index ER (the Index) less the investor fee. The ETNs provides traders with an exchange traded instrument enabling them to efficiently express their market views on the short-term futures contracts on the CBOE SPX Volatility Index (the VIX). The ETN should be purchased only by knowledgeable investors who understand the potential consequences of investing in a volatility index and of seeking inverse investment results. INDEX DESCRIPTION: The S&P 500 VIX Short-Term Futures Index ER was designed to provide investors with exposure to one or more maturities of futures contracts on the VIX, which reflects implied volatility of the S&P 500 Index at various points along the volatility forward curve. The calculation of the VIX is based on prices of put and call options on the S&P 500 Index. The Index targets a constant weighted average maturity of 1 month. RETURNS AND MATURITY: The return on the Securities may be positive or negative, and is directly linked to the performance of the Index, 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. If your ETNs have not been previously redeemed or accelerated, on the Maturity Date, December 4, 2030, you will receive for each $100 stated principal amount of your ETNs (for each $10 stated principal amount in the case of Inverse VIX Short Term ETNs and for each $12.50 stated principal amount in the case of Inverse VIX Medium Term 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 you will receive a cash payment per ETN on the Early Redemption Date equal to the Early Redemption Amount minus the early redemption fees. You must redeem at least 25,000 Securities at one time and agree to the redemption procedures in order to exercise your right to redeem your Securities on any 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: Feb. 9, 2018 -- The recent spike in volatility has hit a lot of the products tied to the VIX pretty hard. That includes the VelocityShares Daily Inverse VIX Short-Term ETN (XIV), which offers inverse exposure to first- and second-month VIX futures. The volatility jump caused the intraday indicative value of XIV to fall to 20% or less of its closing indicative value on the previous day. That triggered what Credit Suisse terms an “acceleration event,” according to the press release. As a result, Credit Suisse plans to issue an irrevocable call notice by Feb. 15, with the actual liquidation of the ETN occurring on Feb. 21. The last day of trading is currently set for Feb. 20._______________Decmeber 2014 -- Janus Capital Group, Inc. completed the acquisition of VS Holdings Inc., the parent company of VelocityShares, LLC., a major provider of institutionally-focused exchange-traded products (ETPs), including exchange-traded funds (ETFs), that are focused on offering volatility management solutions. VelocityShares will now stand as a wholly-owned subsidiary of Janus Capital._______________ 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 listings 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 - 11/29/2010 -
Link to IPO Prospectus
Small Cap Stock -
Market Value $467.0 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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