VelocityShares Daily Inverse VIX Medium-Term ETN
ZIV
NASDAQ Global Market- -
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
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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
- IPO Date
- Nov 29, 2010
- Similar Companies
- Business
- VelocityShares Daily Inverse VIX Medium-Term ETN (ZIV) is an exchange-traded note that provides investors with inverse (-1x) exposure to the daily performance of the S&P 500 VIX Mid-Term Futures Index ER, less the investor fee; the underlying index tracks short positions in mid-term VIX futures contracts from the fourth to seventh nearest expiration months, targeting a constant five-month maturity on the VIX futures curve. Issued by Credit Suisse AG through its Nassau Branch and branded under VelocityShares, the ETN offers a cash payment at maturity, early redemption, or acceleration based on the inverse index performance. Launched on November 29, 2010, with maturity scheduled for December 4, 2030, it is domiciled in Switzerland and targets institutional and retail investors seeking to hedge or speculate on volatility in U.S. equity markets. The ETN operates exclusively in U.S. financial markets, trading over-the-counter (OTC) under the ticker ZIVZF following its delisting from major exchanges on July 2, 2020, as part of Credit Suisse's broader suspension of share creations for multiple VelocityShares ETNs. In a significant operational change, Credit Suisse exercised its optional acceleration right on October 19, 2023, setting the acceleration date for ZIVZF on October 31, 2023, after which investors received a cash payment based on the closing indicative value averaged over a five-trading-day valuation period or a single accelerated valuation date. No further issuances occurred post-delisting, and the product no longer supports active primary market trading, though limited OTC liquidity persists for remaining shares as of recent quotes.