VelocityShares 3x Inverse Crude Oil ETN (DWT)

[Smittle]

Two new exchange-traded notes announced just as the originals were delisted.

While Credit Suisse CS, +1.93% deslisted the VelocityShares 3x Long Crude ETN UWTI, +5.89% and VelocityShares 3x Inverse Crude Oil ETN DWTI, -5.52% on Thursday, moving them to a less accessible over-the-counter market, VelocityShares said Citigroup C, +1.85% would launch two nearly identical products starting Friday: the VelocityShares 3x Long Crude Oil ETN (UWT) and VelocityShares 3x Inverse Crude Oil ETN (DWT).

Despite their similarities, the new notes are entirely separate products. VelocityShares, which is owned by Janus Capital Group Inc. JNS, +2.96% , said Credit Suisse “is not involved in any way” with the new notes.

http://www.marketwatch.com/story/velocityshares-risky-triple-leveraged-oil-notes-find-new-life-2016-12-08?siteid=yhoof2