VelocityShares 3x Inverse Natural Gas ETN Linked to the S&P GSCI Natural Gas Index ER
DGAZ
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- IPO Date
- Feb 7, 2012
- Similar Companies
- Business
- VelocityShares 3x Inverse Natural Gas ETN Linked to the S&P GSCI Natural Gas Index ER (DGAZ) is an exchange-traded note (ETN) that seeks to provide investors with three times the inverse daily performance, net of expenses, of the S&P GSCI Natural Gas Index Excess Return (ER). Issued by Credit Suisse AG acting through its Nassau Branch, the ETN offers leveraged short exposure to natural gas futures contracts comprising the index, targeting sophisticated traders and institutions seeking to hedge or speculate on declines in natural gas prices. The product matures on February 9, 2032, and is unsecured senior debt of the issuer, with no distributions or dividends. The ETN's core offering is its daily leveraged inverse tracking mechanism, designed for single-day holding periods due to compounding effects over time; it does not hold physical commodities but reflects futures-based index performance through swaps and derivatives. Launched on February 7, 2012, under the VelocityShares brand managed by Credit Suisse, it trades primarily on a U.S. exchange basis, with operations centered in the United States and issuer headquarters in Zurich, Switzerland (Nassau Branch). VelocityShares encompasses a range of leveraged ETNs across commodities, volatility, and currencies, serving institutional and retail investors focused on directional bets in volatile markets. In June 2020, Credit Suisse announced the delisting of DGAZ from NYSE Arca effective July 12, 2020, alongside suspension of further issuances, as part of a strategic realignment to streamline its ETN suite amid market volatility from the COVID-19 pandemic; trading shifted to over-the-counter (OTC) markets under ticker DGAZF. On October 19, 2023, Credit Suisse exercised its option to accelerate redemption of DGAZF and related VelocityShares ETNs, with payouts based on the average closing indicative value over a five-day valuation period delivered on November 1, 2023, effectively terminating active trading and investor access shortly thereafter. No new issuances, partnerships, or product expansions have occurred since delisting, reflecting the issuer's exit from certain leveraged commodity ETNs.