This is a printer friendly version of this page.

energy

(DWT) VelocityShares 3x Inverse Crude Oil ETN

VelocityShares 3x Inverse Crude Oil ETN is an exchange-traded note issued by Citigroup Global Markets Holdings Inc. and guaranteed by Citigroup Inc. The Note will provide investors with a cash payment at the scheduled maturity or early redemption or acceleration based inversely on the performance of the underlying index, S&P GSCI Crude Oil Index ER. Investors should exercise caution in trading the ETNs between 2:30 p.m. and 4:00 p.m., New York City time. During this time period, due to delays in the publication of the closing level of the underlying index (which is based on futures trading as of 2:30 p.m. but is not published until after 4:00 p.m.), there is expected to be uncertainty about the intrinsic value of the ETNs. The published Intraday Indicative Value will not be based on fully up-to-date information (which will not be available) during this time period, and trading prices during this time period are likely to diverge from the published Intraday Indicative Value. For more information, please refer to the pricing supplement for the ETNs.
Product Data (12/15/2017)
Closing Indicative Value $16.31    
ETNs Outstanding 11,780,000    
Market Capitalization $192,131,800    
Market Data (12/15/2017)
Closing Price $16.28   High $16.59
Net Change $-0.16   Low $16.19
%Change -0.97   Volume 1,571,550
      20-Day Volume Average 3,297,711
Profile Data
Primary Exchange NYSE Arca   Issuer Citigroup Global Markets Holdings
Ticker DWT   CUSIP 17325E309
Intraday Indicative Value Ticker DWTIV   Inception Date 12/08/2016
Index Weight (12/15/2017)
 

VelocityShares  | 17 Old Kings Highway S | Darien, CT 06820 | 877-5 VELOCITY (877-583-5624) | Contact Us | Site Design: 341 Studios

Risk Disclosures Regarding the ETNs

Important information about the VelocityShares® ETNs is contained within the current prospectuses or supplements. For more complete information regarding the VelocityShares® ETNs, download a prospectus from this site, call 1-877-5-VELOCITY or 1-203-992-4301, or write to Prospectus Inquiry, VelocityShares LLC, 17 Old Kings Highway S, Darien, CT, 06820 to request a prospectus. You should read the prospectus carefully before making an investment decision.

An investment in the ETNs involves significant risks. Please read the more detailed explanation of risks relating to an investment in the ETNs in “Risk Factors” in the applicable pricing supplement.

The ETNs are complex securities and are not suitable for all investors. The ETNs are not intended to be “buy and hold” investments. The ETNs are intended to be daily trading tools for sophisticated investors and are not intended to be held to maturity. Each index is designed to achieve its stated investment objective on a daily basis, and its performance over longer periods of time can differ significantly from its stated daily objective. The ETNs are riskier than securities that have intermediate- or long-term investment objectives, and may not be suitable for investors who plan to hold them for a period longer than one day. Any decision to invest in the ETNs should be made with extreme caution. Any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of a highly leveraged short-term investment based on currency exchange rates and that will be subject to the effects of decay, the forward points adjustment and bid-ask spreads, may be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time. Investors should actively and frequently monitor their investments in the ETNs, even intraday.

As explained in “Risk Factors Relating to the ETNs” in the applicable pricing supplement, because of the nature of daily compounding leveraged instruments such as the ETNs, the amount payable at maturity or upon earlier redemption or acceleration of the ETNs is likely to be significantly less than the stated principal amount of the ETNs. In almost any potential scenario, the long-term performance of each series of ETNs is likely to be negative, regardless of the performance of the underlying currency pair. Investors are not expected to hold the ETNs from inception to maturity. It is possible that the ETNs will incur significant losses even if the long-term performance of the applicable long currency relative to the applicable reference currency is positive.

The term of the ETNs is 15 years. The ETN issuer has the right to accelerate all outstanding ETNs at any time as described in the applicable pricing supplement. In addition, the ETNs will be subject to automatic acceleration, as described in the applicable pricing supplement. If the ETNs are automatically accelerated, investors are likely to suffer a significant loss.

The ETNs include restrictions on the minimum number of ETNs that can be redeemed, and the dates they can be redeemed, are subject to an early redemption charge, do not guarantee any return of principal at maturity and do not pay any interest during their term.

There may not be an active trading market in ETNs; sales in the secondary market may result in significant losses. The issuer is not obligated to maintain the listing of the ETNs on any exchange and may delist the ETNs from any exchange for any reason at any time. Any such delisting may adversely affect the liquidity and trading price of the ETNs.

The issuer is not obligated to issue any particular amount of the ETNs and may suspend further issuances at any time. If the issuer suspends further issuances of the ETNs, it is possible that the ETNs could begin to trade at a premium to the indicative value. Any premium that develops may be reduced or eliminated at any time, including as a result of an announcement that the issuer will restart issuances or an announcement that the issuer will exercise its right to accelerate the ETNs for an amount based on the indicative value. Paying a premium purchase price over the indicative value of the ETNs could lead to significant losses in the event the investor sells the ETNs at a time when such premium is no longer present in the marketplace or the ETNs are accelerated at the issuer’s option.

The trading price of the ETNs may vary considerably over time due, among other factors, to fluctuations in the price or the volatility of the underlying index, and other events that are difficult to predict. At higher levels of volatility, and since the ETNs are not principal protected, there is a significant chance of a complete loss of ETN value even if the performance of the underlying index is flat.

The daily resetting of each index’s leveraged exposure to the applicable exchange rate is likely to cause each ETN to experience a “decay” effect, which is likely to worsen over time and will be greater the more volatile the applicable exchange rate. The “decay” effect refers to a likely tendency of the ETNs to lose value over time independent of the performance of the applicable long currency relative to the applicable reference currency. Accordingly, the ETNs are not suitable for intermediate- or long-term investment, as any intermediate- or long-term investment is very likely to sustain significant losses, even if the applicable long currency appreciates over the relevant time period. Although the decay effect is more likely to manifest itself the longer the ETNs are held, the decay effect can have a significant impact on ETN performance even over a period as short as two days.

If the level of the underlying index decreases or does not increase sufficiently (or if it increases or does not decrease sufficiently in the case of the inverse ETNs), to offset the effect of the Daily Investor Fee over the term of the ETNs, the investor will receive less than the principal amount of his investment upon early redemption, acceleration or maturity of the ETNs.

The ETNs include restrictions on the minimum number of ETNs that can be redeemed, and the dates they can be redeemed, are subject to an early redemption charge, do not guarantee any return of principal at maturity and do not pay any interest during their term.

The ETNs are subject to a daily investor fee accruing at a rate of 1.50% per annum. In addition, ETNs purchased from Citigroup Global Markets Inc., the agent for the offering of the ETNs, will be subject to a creation fee and any ETNs redeemed at the option of the holder will be subject to an early redemption fee. Such fees, charges and transaction costs may materially increase the costs of investing in the ETNs. Please see the applicable pricing supplement for additional detail regarding fees and charges relating to the ETNs.

All payments on the ETNs are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. You may not receive any payment due under the ETNs if Citigroup Global Markets Holdings Inc. and Citigroup Inc. default on their obligations.

The ETNs are not deposits or savings accounts, but are unsecured debt obligations of Citigroup Global Markets Holdings Inc. guaranteed by Citigroup Inc. The ETNs are not insured or guaranteed by the Federal Deposit Insurance Corporation or by any other governmental agency or instrumentality.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Securities are offered through Citigroup Global Markets Inc. (“CGMI”), member SIPC. CGMI and Citibank, N.A. are affiliated companies under the common control of Citigroup Inc. CITI, CITI and Arc Design, and CITIGROUP are trademarks and service marks of Citigroup and are used and registered throughout the world.

The risks listed above are not exhaustive. Investors should review the prospectus or offering document for any security, financial instrument or product and make their own investment decisions based on their specific investment objectives and financial position and after consulting independent tax, accounting, legal and financial advisors. The information contained herein (including historical prices or values) has been obtained from sources that Janus Index & Calculation Services LLC and Janus Distributors LLC (together, “VelocityShares®”) considers to be reliable; however, VelocityShares® does not make any representation as to, or accepts any responsibility or liability for, the accuracy or completeness of the information contained herein.

Janus Index & Calculation Services LLC (“Janus Index”) is the licensor of certain trademarks, service marks and trade names of Janus Henderson Investors and of certain Indices, which are determined, composed and calculated by Janus Index without regard to the issuer of any securities which may be linked to such indices. Neither Janus Henderson, Janus Index nor any other party guarantees the accuracy and/or the completeness of the indices or any data included therein.

VelocityShares® is a trade name used by Janus Distributors LLC, a registered U.S. broker-dealer, in connection with the services and products described herein.

Janus Henderson and VelocityShares are trademarks or registered trademarks of Janus Henderson Investors. © Janus Henderson Investors. The name Janus Henderson Investors includes HGI Group Limited, Henderson Global Investors (Brand Management) Sarl and Janus International Holding LLC.

This site is for informational purposes only. Nothing herein constitutes a solicitation, offer or recommendation by VelocityShares® or its affiliates to buy or sell securities. VelocityShares® does not render investment, tax, accounting or legal advice. The securities discussed herein may not be suitable for all investors and should only be used by knowledgeable investors who understand the potential consequences of seeking inverse or leveraged investment results. Investors should actively monitor their investments in the securities. Investors should review the prospectus for each security and make their own investment decisions based on their specific investment objectives and financial position and after consulting independent tax, accounting, legal and financial advisors. VelocityShares® will receive a fee from the issuers of the products discussed on this site based on the quantity of products outstanding.

Past performance does not predict future performance. The value of the securities may decrease and investors may lose some or all of their investment.

Please see “VelocityShares Terms of Use” for additional information regarding use of this website.

Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission, or SEC, for the offerings of ETNs. Before you invest, you should read the pricing supplement, accompanying prospectus supplement and prospectus and the documents incorporated by reference into the registration statement to understand fully the terms of the ETNs and other considerations that are important in making a decision about investing in the ETNs. The pricing supplement for the ETNs may be obtained by clicking here: https://www.sec.gov/Archives/edgar/data/200245/000095010317012312/dp84016_424b2-4xcurrencyetns.htm. These documents are also available without cost by visiting EDGAR on the SEC website at www.sec.gov or by calling toll-free 877.5.VELOCITY (877.583.5624).