DB Agriculture Short ETN
ADZ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 875 Third Avenue New York NY United States of America 10022
- IPO Date
- Jan 1, 2009
- Similar Companies
- Business
- DB Agriculture Short ETN (ADZ) is an exchange-traded note issued by Deutsche Bank AG that provides investors with inverse exposure to the performance of the agriculture sector. The ETN tracks the monthly inverse performance of the DBIQ Diversified Agriculture Index Excess Return plus the monthly return of the DB 3-Month T-Bill Index, with the underlying index composed of roughly equal percentages of futures contracts on corn, wheat, soybeans, and sugar; it is a senior unsecured obligation of Deutsche Bank AG (London Branch), maturing on April 1, 2038. Targeted at investors seeking a short view on agricultural commodities, the product offers cash settlement at maturity or early redemption based on the inverse daily return of the index, subject to an investor fee, and operates within the trading-inverse commodities segment. Founded through offerings launched in 2008 under the PowerShares branding before transitioning to direct Deutsche Bank issuance, the ETN is headquartered with its issuer in Frankfurt, Germany, via the London branch, and trades primarily in the United States on the NYSE Arca exchange under the ticker ADZ. It serves institutional and retail investors interested in commodities derivatives, with no physical assets or subsidiaries, as a standalone structured product backed solely by the credit of Deutsche Bank AG. In recent major changes, the ETN was delisted from the NYSE Arca exchange around April 2019 as part of Deutsche Bank's strategic reduction in its ETN offerings, transitioning to over-the-counter trading under the new ticker symbol ADZCF on the OTC Pink market, which has resulted in wider spreads and reduced liquidity. Following the delisting announced in 2019, the notes continued as outstanding obligations without redemption, allowing holders to retain inverse agriculture exposure through secondary markets or hold to the 2038 maturity date. No new product launches, acquisitions, or partnerships specific to this ETN have been reported since the delisting, amid broader Deutsche Bank restructuring in its investment banking and trading operations.