Barclays’ VZZB Bites the Dust

VZZB‘s intraday indicative (Yahoo) value dropped below $10 Friday October 5th, triggering its automatic termination event.   According to the prospectus the holders of record will receive a cash payout value set by the closing intraday indicative value (IV)  for the day—provided it is between 0 and 10.   Since the final IV was 10.45, the redemption value will be set to 10.00 according to the way I read the prospectus.    Barclays 2x med-term VIX futures ETN has a market cap is less than $1 million, so not many people affected.  For more see Deathwatch for VZZB.

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