FYI DWTI / UWTI From one of my brokers:
Important upcoming ETN delistings
We are writing to notify you that the following Exchange-Traded Notes (ETNs) you currently hold or previously held will be delisted and will no longer trade on any national securities exchange effective December 9, 2016:
• VelocityShares™ 3x Inverse Crude Oil (DWTI)
• VelocityShares™ 3x Long Crude Oil (UWTI)
Background on the delistings:
On November 16, 2016, Credit Suisse AG announced the intention to delist and suspend further issuances of DWTI and UWTI. For more information about these delistings, please review the Credit Suisse AG press release and SEC filing.
Your available actions:
You may liquidate your shares on the open market prior to the delisting date of December 9, 2016.
Alternatively, shares can be held through the delisting date. Unless trading resumes on an over-the-counter market, outstanding shares will be subject to the liquidation and cash distribution process. Distributions are scheduled for the due date of February 9, 2032. However, Credit Suisse AG may choose to accelerate the distribution for one or both ETNs.
Investors holding positions of at least 25,000 shares of either ETN may be eligible for early redemption. For clients that do not meet the 25,000 share threshold, there may be an alternative early redemption process. Please call in for information regarding early redemption.
