Citi VelocityShares 3x Long Crude Oil S&P ETN (UWT)

[JohnCM]

Don't take my word on it BUT, I believe this fund will be liquidated after TODAY, April 2nd, 2020. At which point you will have to wait for Citigroup to determine what your percentage share is after liquidation. They will then send you a check. If I owned this ETN, I would sell before the end of day.

For Immediate Release
Citigroup Inc. (NYSE: C)
March 19, 2020

Citigroup Announces the Acceleration of Two Series of ETNs

NEW YORK – Citigroup Global Markets Holdings Inc. (“CGMHI”) announced today that
it will accelerate at its option, and in full, the two series of exchange-traded notes listed
in the table below (the “ETNs”).

ETN Name Exchange ETN Ticker CUSIP Underlying Index

VelocitySharesTM 3x
Long Crude Oil ETNs
NYSE Arca UWT 17325E291 S&P GSCI® Crude Oil

VelocityShares Index ER TM 3x
Inverse Crude Oil ETNs
NYSE Arca DWT 17325E309

Holders of the ETNs will receive a cash payment per ETN in an amount (the “Optional
Acceleration Redemption Amount”) equal to the closing indicative value of the
respective series of ETNs on the final valuation date of the Optional Acceleration
Valuation Period. The Optional Acceleration Valuation Period will be the period of five
consecutive index business days beginning on March 25, 2020 and expected to end on
March 31, 2020. The payment upon optional acceleration is based upon a declining
exposure to the ETNs’ underlying index over the Optional Acceleration Valuation
Period. The closing indicative value of the ETNs will be calculated on each day during
the Optional Acceleration Valuation Period so that the applicable leverage of the ETNs
does not reset after the period begins. The Optional Acceleration Redemption Amount
is expected to be paid to investors on April 3, 2020. More information on the manner in
which the Optional Acceleration Redemption Amount will be calculated, including the
circumstances in which the dates specified herein may be postponed, is available in the
pricing supplement for the ETNs, which is available at the following hyperlink:

https://www.sec.gov/Archives/edgar/data/200245/000095010320005510/dp124148_424b3-uwtdwta10.htm

As described in more detail in the pricing supplement for the ETNs, if a trigger event
occurs prior to the end of the Optional Acceleration Valuation Period, holders of the
ETNs will not receive the Optional Acceleration Redemption Amount described above,
but rather an amount determined as set forth in the pricing supplement for the ETNs.
The last day of trading for the ETNs is expected to be April 2, 2020.