Compulsory redemption of WisdomTree Nickel 3x Daily Short
WisdomTree Commodity Securities Limited today announced that WisdomTree Nickel 3x Daily Short (3NIS) will be compulsorily redeemed.
Further to the restrike announcement on 7 March 2022 where the 25% restrike threshold was triggered, the extreme and continual movements in nickel prices on the 7 March 2022, led to the product moving more than 33% from the previous close price before the restrike process was able to be concluded. As a result of this price move the Calculation Agent determined the value of the product had dropped by 100% and was less than zero (3 x 33.3334%), causing the commodity contracts to be terminated in accordance with the conditions set out in prospectus.
Application has been made to the London Stock Exchange and Borsa Italiana where the WisdomTree Nickel 3x Daily Short securities are listed to request that they are to be suspended with immediate effect and delisted. The Redemption Amount of the WisdomTree Nickel 3x Daily Short securities has been calculated as zero so investors should not expect to get paid for the securities they hold.
Impacted products:
+ WisdomTree Nickel 3x Daily Short (3NIS)
For full details of this announcement:
+ RNS