Last checked at 21 Feb 2019 17:28
ETFS Commodity Securities Limited
LEI: 21380068Q1JSIAN4FO63
21 February 2019
ETFS Commodity Securities Limited
Short and Leveraged Commodity Securities
ETFS 3x Daily Long Wheat Commodity Securities - suspensionof the right to Redeem by Settlement Pricing
ETFS Commodity Securities Limited (the "Issuer") gives notice of the following:
The Price for an ETFS 3x Daily Long Wheat Commodity Security (an "Affected Security") for Wednesday 20 February 2019 determined in accordance with Condition 5 of the Conditions of the Short and Leveraged Commodity Securities was US$4.9582392, which is less than its Principal Amount of US$5.00.
As indicated by the Issuer in the circular to holders of the Affected Securities dated 23 November 2018, the Issuer has determined pursuant to Condition 7.18 of the Conditions of the Short and Leveraged Commodity Securities to suspend the right to Redeem the Affected Securities pursuant to Condition 7.1(a) (Settlement Pricing). The right to Redeem the Affected Securities pursuant to Condition 7.1(b) (Agreed Pricing) remains unaffected and such redemptions will continue normally.
To enable normal Redemptions to continue, all Redemptions under Agreed Pricing will, unless otherwise agreed at the time, be based on the settlement price of the relevant sub-index of the Bloomberg Commodity IndexSM and the pricing formula as stated in the Prospectus. This will allow the creation and redemption of the Affected Securities to continue unaffected. This procedure has been designed to ensure that all holders of Affected Securities who are able to redeem Affected Securities can each continue to receive a price for their Affected Securities based on the relevant sub-index of the Bloomberg Commodity IndexSM. Accordingly the Issuer does not currently expect any disruption to trading in the Affected Securities.
A further announcement will be made in due course.
Terms used in this announcement and not otherwise defined bear the same meanings as where used in the prospectus of the Issuer dated 22 August 2018.
For further information, please contact:
Ciaran Hocking
R&H Fund Services (Jersey) Limited
Tel: +44 (0) 1534 825200
Fax: +44 (0) 1534 825335
E-mail address: etfsjersey@rhfsl.com