Deutsche Bank expects the New York Stock Exchange Arca to delist the DB Base Metals Long Exchange Traded Notes (BDG) because it has fallen below the NYSE Arca’s requirement for it to maintain an aggregate market value of at least USD400,000.
Further issuances of the ETN were suspended on 1 January 2016.
Deutsche Bank expects the NYSE Arca to announce the commencement of delisting proceedings and the suspension of trading for the ETN in the next several weeks.
Following the delisting, the ETN may trade, if at all, on an over-the-counter basis.
The ETN holders’ option to require Deutsche Bank to repurchase the ETN will not be affected by this delisting.
As was announced on 15 March 2016, the redemption unit size of the ETN has been reduced to 100 notes (or integral multiples of 100 notes in excess thereof) on the 15th calendar day of each month.
The redemption unit size for the rest of each month remains 5,000 notes (and integral multiples of 5,000 notes in excess thereof).
The next day on which holders of the ETN can exercise their repurchase right with the reduced redemption unit size of 100 notes is 15 September 2016.