ETF Watch: Credit Suisse To Close 3 ETNs

Issuer will shut down products that failed to catch on.

Credit Suisse has announced it will be closing three of its exchange-traded notes over the next few weeks. The three targeted ETNs have limited assets, with the largest weighing in at less than $14 million.

The Credit Suisse X-Links Long/Short Equity ETN (CSLS) will see its last day of trading on May 25. The ETN launched in 2010 and has just $13.7 million in assets under management.

The Credit Suisse FI Enhanced Big Cap Growth ETN (FIBG) and the Credit Suisse X-Links Commodity Rotation ETN (CSCR) will have their last trading days on June 2. FIBG rolled out in 2013 and has $6.8 million in assets, while CSCR also launched in 2013 and has just $1 million in assets.

Credit Suisse has 10 other ETNs that are listed on U.S. markets, the largest of which is the Credit Suisse FI Large Cap Growth Enhanced ETN (FLGE), with $1.1 billion in assets.              

There have been more than 20 closures so far this year.

Contact Heather Bell at [email protected].