UK markets closed
  • NIKKEI 225

    23,474.27
    -165.19 (-0.70%)
     
  • HANG SENG

    24,786.13
    +31.71 (+0.13%)
     
  • CRUDE OIL

    40.64
    0.00 (0.00%)
     
  • GOLD FUTURES

    1,908.20
    +3.60 (+0.19%)
     
  • DOW

    28,363.66
    +152.84 (+0.54%)
     
  • BTC-GBP

    10,028.11
    +1,606.52 (+19.08%)
     
  • CMC Crypto 200

    263.22
    +7.12 (+2.78%)
     
  • ^IXIC

    11,506.01
    +21.31 (+0.19%)
     
  • ^FTAS

    3,268.54
    +7.53 (+0.23%)
     

WisdomTree Multi Asset Issuer Public Limited Company Programme for the issuance of Collateralised ETP Securities

WisdomTree Multi Asset Issuer PLC
·4-min read

9 October 2020

WisdomTree Multi Asset Issuer Public Limited Company
Programme for the issuance of Collateralised ETP Securities

Consolidations of the Collateralised ETP Securities of the following classes
WisdomTree S&P 500 VIX Short-Term Futures 2.25x Daily Leveraged
WisdomTree Natural Gas 3x Daily Leveraged
WisdomTree NASDAQ 100 3x Daily Short
WisdomTree Brent Crude Oil 3x Daily Short

Terms used in this announcement and not otherwise defined bear the same meanings as where used in the prospectus of the Issuer dated 2 September 2020 for the programme for the issuance of Collateralised ETP Securities.

WisdomTree Multi Asset Issuer Public Limited Company (the “Issuer”) announces that it has posted a circular (the “Circular”) dated 9 October 2020 to the relevant ETP Securityholders announcing consolidations (the “Consolidations”) of the following classes of Collateralised ETP Securities (the “Affected Securities”):

ETP Security

ISIN

NAV per ETP Security (US$, as of 06/10/2020)

Target Price per consolidated ETP Security (US$)

WisdomTree S&P 500 VIX Short-Term Futures 2.25x Daily Leveraged

IE00B8VC8061

DE000A133ZU4

0.0050416



200

WisdomTree Natural Gas 3x Daily Leveraged

IE00BYTYHQ58

DE000A2BGQ13

0.0033458



200

WisdomTree NASDAQ 100 3x Daily Short

IE00B8VZVH32

DE000A133ZR0

0.1834458



100

WisdomTree Brent Crude Oil 3x Daily Short

IE00BYTYHR65

DE000A2BGQ05

0.3489050



200

A copy of the circular can be obtained from the Issuer’s website at www.wisdomtree.eu

With effect from an “Effective Date” to be announced by the Issuer not less than 14 days prior to the effective date of the Consolidations, Affected Securities of each class will be consolidated into and become a smaller number of consolidated securities of the same class.

Any fractions of Affected Securities resulting from the Consolidations will be redeemed by the Issuer at the price for that class on the Effective Date.

If the Effective Date is not a Valuation Date in respect of that class of Affected Securities, they shall be redeemed at the price on the next Valuation Date. The Issuer will waive any redemption fee in respect of such redemptions.

The number of Affected Securities of any class to be consolidated into one consolidated security of that class is the “Specified Number”.

The Effective Date and the Specified Number in respect of each class will be announced by the Issuer by way of an announcement via RNS no later than 14 days prior to the Effective Date on each of the exchanges upon which the Affected Securities are admitted to trading. It is expected that the Consolidations will be effective and automatically reflected on the relevant registers and exchanges on the Effective Date.

In setting the Specified Number the Issuer is seeking to set the post-consolidation price of the Affected Securities at approximately the price indicated in the above table.

Impact on Investors

The price of an investor’s holding of any class of Affected Securities will not be affected by the Consolidations, other than in respect of the redemption of any resulting fractions.

Following the Consolidations an investor will hold fewer securities of the relevant class, but at a proportionately higher price. For example, if the Specified Number in respect of a class were 50 and an investor held 150 Affected Securities, then every 50 Affected Securities of that class would be consolidated into one consolidated security and post consolidation that investor would hold 3 Affected Securities of that class. The Consolidations will take effect as a combination of Affected Securities and therefore no new securities will be issued and only the resulting fractions of consolidated securities will be redeemed.

The aim of the Consolidations is that the price and Principal Amount of one consolidated security of any class immediately after the consolidations will be as close as possible to the aggregate price and Principal Amount of the Specified Number of securities of that class immediately prior to the Consolidations.

Although no new securities are being issued, following the Consolidations, new IE ISINs and new SEDOLs will be issued in respect of the consolidated securities of each class. The Issuer understands that neither new DE ISINs nor new WKNs will be issued. The Issuer will be disclosing the new security identifiers in an announcement by RNS no less than 14 days prior to the Effective Date. Exchange codes and tickers are expected to remain unchanged.

Documentation

The Consolidations will be implemented pursuant to an amendment to the Supplemental Trust Deed in respect of each class made between the Trustee, the Manager and the Issuer.

Further Announcements

No later than 14 days prior to the Effective Date the Issuer will release a further RNS on each of the exchanges upon which the Affected Securities are admitted to trading confirming the following in respect of each class of Affected Security:

  • the Effective Date of the Consolidations;

  • the Specified Number of securities of each class;

  • the new security identifiers for the consolidated securities of each class; and

  • the principal amounts of the consolidated securities.

Action required

This announcement contains information and does not require any action to be taken.

For further information, please refer to our website at www.wisdomtree.eu or contact InfoEU@wisdomtree.com