February 6, 2018 / 2:32 PM / in 6 months

Credit Suisse to redeem popular exchange-traded volatility notes

NEW YORK (Reuters) - Credit Suisse Group AG (CSGN.S) said on Tuesday it would redeem one of the most popular exchange-traded notes following Monday’s steep decline in financial instruments that bet against wild downward swings in the markets.

The Credit Suisse logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause

The bank said VelocityShares Daily Inverse VIX Short-Term ETN XIV.P will stop trading by February 20. The redemption of the note likely leave investors with a fraction of their initial investment.

Reporting by Trevor Hunnicutt; Editing by Nick Zieminski

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