Credit Suisse Says ‘Complete Loss’ Likely for Buyers of Oil ETN
- DWTIF’s intraday indicative value equal to or less than $0
- Holders will not receive any payout if redeemed or at maturity
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Credit Suisse has a message for investors in its triple-leveraged oil ETN: Buy at your own risk.
The intraday indicative value of the VelocityShares Daily 3x Inverse Crude exchange-traded notes, or DWTIF, was equal to or less than $0 on Thursday, according to a Credit Suisse statement. As a result, the closing indicative value will be $0, which means current holders and future buyers won’t receive a payout at maturity, if the ETN is called or if they attempt to redeem, it said.