VelocityShares 3x Long Gold ETN Linked to the S&P GSCI Gold Index ER
UGLDF
Other OTC- -
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
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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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
- Address
- United States of America
- IPO Date
- Oct 17, 2011
- CIK
- 0001053092
- Similar Companies
- Business
- VelocityShares 3x Long Gold ETN Linked to the S&P GSCI Gold Index ER (UGLDF) is an exchange-traded note (ETN) issued by Credit Suisse AG, Nassau Branch, that provides leveraged exposure to the gold commodity market. Launched on October 14, 2011, with a scheduled maturity date of October 14, 2031, the ETN seeks to deliver three times (3x) the daily performance, before fees and expenses, of the S&P GSCI Gold Index Excess Return (ER), which tracks the returns from a long position in gold futures contracts rolled daily according to S&P Dow Jones Indices' methodology. Domiciled in Switzerland and listed initially on major U.S. exchanges such as NASDAQ under the ticker UGLD, it targets sophisticated investors seeking amplified daily returns tied to gold price movements, with a focus on the commodities sector and global gold markets. The ETN's core offering consists of leveraged daily investment results linked solely to the S&P GSCI Gold Index ER, without physical gold holdings or dividends; it employs futures-based replication for its 3x long exposure, subjecting it to contango, backwardation, and high volatility inherent in leveraged commodity products. Credit Suisse AG, headquartered in Zurich, Switzerland, serves as the issuer and counterparty, bearing full credit risk to noteholders, with no subsidiaries or parent guarantees specified for this product beyond the issuer's obligations. In July 2020, Credit Suisse delisted UGLDF (then primarily UGLD) from its primary exchanges, suspended new issuances, and shifted trading to over-the-counter markets as part of a strategic realignment of its ETN suite to focus on broader growth priorities. On October 19, 2023, Credit Suisse exercised its optional acceleration right, setting the final redemption date for UGLDF around November 1, 2023, resulting in mandatory cash settlement based on the closing indicative value, effectively terminating the ETN ahead of its original maturity amid ongoing OTC trading. These actions reflect significant operational wind-down, with no reported new issuances, partnerships, or expansions since delisting.