https://www.bloomberg.com/news/arti...aid-to-consider-redemption-of-volatility-note
"Credit Suisse is buying back the VelocityShares Daily Inverse VIX Short-Term ETN, which it issued and is known by its trading symbol XIV. The fund’s market value topped $2 billion in late January; it was down more than 80 percent afterhours Monday before being halted. The bank said it’s redeeming early because the indicative value on Feb. 5 was equal to or less than 20 percent of the prior day’s closing indicative value."
Have to love all the **** they come up with to trade....what could go wrong though, right?
"Credit Suisse is buying back the VelocityShares Daily Inverse VIX Short-Term ETN, which it issued and is known by its trading symbol XIV. The fund’s market value topped $2 billion in late January; it was down more than 80 percent afterhours Monday before being halted. The bank said it’s redeeming early because the indicative value on Feb. 5 was equal to or less than 20 percent of the prior day’s closing indicative value."
Have to love all the **** they come up with to trade....what could go wrong though, right?