Credit Suisse Is Delisting an ETN That’s Made 200% This Year
- The $1.5 Billion TVIX among nine products to be pulled by CS
- Most of the ETNs being delisted by the firm are leveraged
A pedestrian wearing a protective face mask walks past a Credit Suisse Group AG bank branch in Zurich, Switzerland, on Friday, April 17, 2020.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Credit Suisse Group AG will delist almost $3 billion in exchange-traded notes in a lineup revamp, including a leveraged product that has more than tripled this year.
The $1.5 billion VelocityShares Daily 2x VIX Short-Term ETN (TVIX), which seeks to provide twice the daily return of the S&P 500 VIX Short-Term Futures Index, is among the nine products to be pulled by the firm. The move is part of a “continuing effort to monitor and manage” exchange-traded offerings, Credit Suisse said in a statement Monday.