February 6, 2018 / 2:27 PM / 5 months ago

Credit Suisse to redeem popular exchange-traded volatility notes

NEW YORK, Feb 6 (Reuters) - Credit Suisse Group AG said on Tuesday it would redeem one of the most popular exchange-traded notes following Monday’s steep decline in financial instruments that bet against wild downward swings in the markets.

The bank said VelocityShares Daily Inverse VIX Short-Term ETN will stop trading by February 20. The redemption of the note likely leave investors with a fraction of their initial investment.

Reporting by Trevor Hunnicutt; Editing by Nick Zieminski

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