After “Extraordinary Event” Crushes Traders, Credit Suisse Forced To Accelerate “Berserk” NatGas ETN
Following yesterday’s “berserk” price action in Credit Suisse’s 3x Inverse Natural Gas ETN, the Swiss banking giant has been forced to do something about it.
In recent years the price hadnt risen above $600, but it advanced in each of the past five sessions with percentage increases of 35%, 34%, 29%, 223% and 400%, and closed on Wednesday at $15,000.
That compares with the notes net asset value of $124.01. The market cap is $4.58 billion, versus total assets of $37.9 million.
The note had alr…