Last checked at 22 Mar 2021 06:36
Compulsory Redemption of WisdomTree EURO STOXX Banks 3x Daily Short (ISIN: IE00BLS09P63) (the “Impacted Securities”)THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF THE IMPACTED SECURITYHOLDERS (AS DEFINED BELOW).
LEI: 2138003QW2ZAYZODBU2322 March 2021
WisdomTree Multi Asset Issuer PLC (the “Issuer”)
Compulsory Redemption of WisdomTree EURO STOXX Banks 3x Daily Short (ISIN: IE00BLS09P63) (the “Impacted Securities”)
This notice relates to the Impacted Securities issued pursuant to the Issuer’s Collateralised ETP Securities Programme (the “Programme”) and its base prospectus dated 16 November 2020 (the “Base Prospectus”). The holders of the Impacted Securities are referred to in this notice as the “Impacted Securityholders”. Terms used in this notice but not otherwise defined bear the same meanings as used in the Base Prospectus.
Summary: A Compulsory Redemption Event occurred on 8 March 2021 in respect of the Impacted Securities.In accordance with the Conditions, the Issuer is required to designate a Compulsory Redemption Date for the Impacted Securities. This notice provides information on the Compulsory Redemption Date and other important dates relating to the redemption of the Impacted Securities. Background:The Issuer notes pursuant to Condition 8.6(A) of the Impacted Securities that a Threshold Event Date occurred in respect of the Impacted Securities on 16 November 2020. This Threshold Event Date occurred when the Price of the Impacted Securities fell below 500% of the Principal Amount of the Impacted Securities.
The Issuer further notes that on 8 March 2021 (“8 March Threshold Event”) the Price of the Impacted Securities fell below 200% of the Principal Amount of the Impacted Securities; the 8 March Threshold Event being more than 60 calendar days after the Threshold Event Date on 16 November 2020. Accordingly, a Compulsory Redemption Event has occurred in accordance with Condition 8.8(B) of the Impacted Securities.
C. Designation of Compulsory Redemption Date
Impacted Securityholders are hereby notified that pursuant to Condition 8.8(B) of the Impacted Securities, the Issuer is designating a Compulsory Redemption Date in respect of the Impacted Securities. The Compulsory Redemption Date will be 22 April 2021. All other classes of ETP Securities issued by the Issuer will continue to be priced and will continue to trade in their normal manner.
Impacted Securityholders are not required to hold their Impacted Securities until the Compulsory Redemption Date, Impacted Securityholders are able to sell their Impacted Securities prior to and on the last day of trading on European exchanges for Impacted Securities, as specified in Section H (Indicative timeline), below. If Impacted Securityholders do not sell their Impacted Securities prior to the last day of trading on European exchanges, then Impacted Securityholders will continue to be exposed to any movements in the price of the underlying index, the applicable leverage and where relevant the applicable fees and expenses, up until the Compulsory Redemption Date.
Impacted Securityholders are strongly advised to consult with their bank, securities broker or other intermediary through which they hold their Impacted Securities prior to the Compulsory Redemption Date, particularly if they wish to sell their Impacted Securities in advance of the Compulsory Redemption Date and in order to understand the process and any costs associated with such sale.
D. Payment of Compulsory Redemption Amount
It is expected that the Compulsory Redemption Settlement Date in respect of the Impacted Securities will be on Friday 30 April 2021 subject to timely receipt of the Compulsory Redemption Amount from the Swap Provider. Each Impacted Security will become due and payable on such Compulsory Redemption Settlement Date at its Compulsory Redemption Amount subject to liquidation of the underlying Swap Transactions. A further announcement will be made following the Compulsory Redemption Date to confirm the Compulsory Redemption Amount.
Please note that the Compulsory Redemption Amount payable in respect of the Impacted Security may be paid in instalments in accordance with Condition 8.10 (Payment of Redemption Amount or Compulsory Redemption Amount in instalments) of the Impacted Securities (with each instalment being an amount equal to the Daily Instalment Amount) over a period of successive Currency Business Days commencing on and including the Compulsory Redemption Settlement Date.
Settlement of the cash redemption proceeds due to Impacted Securityholders holding Impacted Securities shall be paid in accordance with Condition 11.2 (Payments) of the Impacted Securities. The payment of the Compulsory Redemption Amount will be made in the Base Currency of the Impacted Securities, which is Euros. Impacted Securityholders are strongly advised to contact their bank, intermediary or securities broker to confirm how and in what currency they will receive the Compulsory Redemption Amount.
Payments of the Compulsory Redemption Amount will be made through Euroclear or Clearstream, Luxembourg. There may be delays in these payments reaching Impacted Securityholders and Impacted Securityholders are advised to contact their bank, securities broker or other intermediary through which they hold their Impacted Securities for more information.
E. For Authorised Participants
For Authorised Participants that have entered into Authorised Participant Agreements with the Issuer, Agreed Redemption Orders received (or deemed received) prior to 2pm London time on Friday 16 April 2021 will be valid and will be processed in the normal way. Agreed Redemption Orders received (or deemed received) on or after 2pm London time on that day will be invalid. Any Impacted Securities then remaining in issue will be redeemed compulsorily in accordance with the Conditions.
F. For all Impacted Securityholders
For all Impacted Securityholders, it is expected that the last day of trading on European exchanges for the Impacted Securities will be on or around 8 April 2021. Impacted Securityholders wishing to sell their Impacted Securities before the Compulsory Redemption of these Impacted Securities should do so by the close of trading on Thursday 8 April 2021.
Please note that there will be a gap between the last trading day on exchange and the Compulsory Redemption Date. There will also be a further gap between the Compulsory Redemption Date and the date on which the Impacted Securityholders will receive their Compulsory Redemption Amount. Impacted Securityholders are therefore strongly advised to contact their advisors and brokers if they wish to sell their Impacted Securities in advance to avoid being part of the compulsory redemption process.
G. Actions to be taken
Prior to the last day of trading on European exchanges, Impacted Securityholders can take two actions:
Contact their bank, securities broker or other intermediary through which they hold their Impacted Securities to sell their Impacted Securities in advance of the last trading day on exchange; orDo nothing and be part of the Compulsory Redemption process and receive payment on the Compulsory Redemption Settlement Date, as outlined in Section H (Indicative timeline), below. Indicative timeline| PROCESS STEPS | DATE |
| Last day of trading on relevant Stock Exchanges (All investors) | Thursday 8 April 2021 |
| Last trading day for Subscription Orders (Authorised Participants only) | Tuesday 13 April 2021 |
| Last trading day for Agreed Redemption Orders (Authorised Participants only) | By 2 pm on Friday 16 April 2021 |
| Record Date for Impacted Securityholders | Wednesday 21 April 2021 |
| Compulsory Redemption Date | Thursday 22 April 2021 |
| Announcement of Compulsory Redemption Amount | Friday 23 April 2021 |
| Compulsory Redemption Settlement Date | On or after Friday 30 April 2021 |
For further information please contact europesupport@wisdomtree.com
For and on behalf ofWisdomTree Multi Asset Issuer plc