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Nomura Issues Apology to Investors after almost $300 Million Lost in Exchange Traded Note

Nomura Issues Apology to Investors after almost $300 Million Lost in Exchange Traded Note

Japanese Bank, Nomura has issued an apology to investors after almost $300 Million (96%) was wiped out on its Exchange Traded Note (ETN).   The ETN was early redeemed by Nomura at ¥1,144 per unit, valued at ¥1.3 billion (Tokyo 3 pm on 7th February 2018) , down from ¥32 billion (5th February 2018), a 96% in a few days.  Credit Suisse is also buying back a volatility ETN that has declined almost 95% from a peak of $2 billion in January 2018.

” Nomura Early Redeems ETN after 96% Loss in a few days “

The product is listed, and can be bought by individuals and institutional investors.  The ETN (Nomura’s Next Notes S&P500 VIX Short-Term Futures Inverse Daily Excess Return Index ETN) was structured to to track the opposite of the daily return of S&P Vix short-term futures index.

Source: Bloomberg, Japan Times

 

About Nomura Group

Nomura is an Asia-headquartered global investment bank with an integrated network spanning over 30 countries. By connecting markets East & West, we service the needs of individuals, institutions, corporates and governments through our three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking).

Visit: Nomura Group

 


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