VelocityShares 3x Long Silver ETN Linked to the S&P GSCI Silver Index ER
USLVF
Other OTC- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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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.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 2000 PGA Boulevard, Suite 4440 Palm Beach Gardens FL United States of America 33408
- IPO Date
- Oct 17, 2011
- CIK
- 0001053092
- Similar Companies
- Business
- VelocityShares 3x Long Silver ETN Linked to the S&P GSCI Silver Index ER (USLVF) is an exchange-traded note issued by Credit Suisse AG, Nassau Branch, that provides leveraged exposure to the silver commodity market. The ETN seeks to deliver three times the daily performance, net of fees, of the S&P GSCI Silver Index Excess Return, which tracks silver prices through long positions in futures contracts; it matures on October 14, 2031, and targets investors seeking amplified daily returns on silver price movements without direct commodity ownership. Domiciled in Switzerland and formed on October 14, 2011, the product operates primarily in U.S. and global financial markets, serving retail and institutional investors focused on leveraged commodities. The ETN's core offering centers on its leveraged tracking mechanism tied to silver futures via the S&P GSCI Silver Index ER, enabling thrice the daily index return; it features no physical silver holdings, relying instead on Credit Suisse's unsecured debt obligation for principal protection subject to issuer credit risk and daily reset mechanics that may lead to compounding effects over longer periods. Trading occurs on U.S. exchanges under tickers USLV and USLVF, with exposure concentrated in the precious metals segment of commodities markets. In June 2020, Credit Suisse announced the delisting of USLV alongside several VelocityShares ETNs, including UGLD, DGLD, and DSLV, with trading ceasing on July 2, 2020, as part of a strategic realignment to reduce exposure to highly volatile leveraged products following prior incidents like the 2018 XIV termination. Subsequently, on October 19, 2023, Credit Suisse exercised its acceleration option on the previously delisted USLVF and related ETNs, setting the acceleration date for November 1, 2023, which triggered early redemption and cash payments to remaining holders based on the underlying index performance at that time. These actions reflect Credit Suisse's broader portfolio management amid its acquisition by UBS in 2023, effectively winding down the VelocityShares branded leveraged commodity ETNs.