Credit Suisse Closes Five More Exchange-Traded Notes
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Credit Suisse is shuttering five more exchange-traded notes next month, eliminating a pair of structured products that let investors bet on swings in stock markets and a trio of notes tied to oil prices.
The investment bank, which infamously closed the $1.9 billion VelocityShares Daily Inverse VIX Short-Term ETN, ticker XIV, in February amid a maelstrom in which the S&P 500 Index tumbled 8.5 percent in five sessions, seems to be targeting smaller, less popular funds this time around. None of the funds set to shut Aug. 15 has more than $7 million in assets.