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Credit Suisse lowers hurdle to redeem delisted oil ETNs
December 9, 2016 / 10:10 PM / a year ago

Credit Suisse lowers hurdle to redeem delisted oil ETNs

NEW YORK, Dec 9 (Reuters) - Credit Suisse on Friday said it would reduce the minimum redemption amount of two popular exchange-traded notes, used to bet on the price of oil, from 25,000 to 500.

The move comes amid concerns that investors would not be able to trade the notes for what they are worth after their surprise delisting this week.

VelocityShares 3x Long Crude Oil ETN became the largest product of its kind delisted from U.S. exchanges after Thursday trading. VelocityShares 3x Inverse Crude Oil ETN was also delisted. (Reporting by Trevor Hunnicutt)

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