Nomura Sorry for VIX Note Crash That Burned Retail Investors
- Notes to be redeemed at a 96 percent discount, brokerage said
- Japanese individual investors were among buyers of Nomura ETN
Nomura Says Sorry to Retail Investors Wiped Out in Rout
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Nomura Holdings Inc. issued an apology after investors in a $300 million product betting on low volatility were all but wiped out during this week’s stock-market turmoil.
Japan’s biggest brokerage said Wednesday that it has received inquiries from individual investors after its decision to redeem the exchange-traded notes at a 96 percent discount. “We sincerely apologize for causing significant difficulties to investors,” its Nomura Europe Finance unit said in a statement a day earlier.