VelocityShs 3x Long Crude Oil ETN lkd S&P Gsci Crude Oil (UWT) News

Very well said. I have been following this product closely as I did invest almost 200k. Its performance did Not correlate with the underline even before the last 5 days. There must be something that we can do about it as this behaviour is totally unethical. Even Lehman investors did get compensated eventually. Is there a group of investors interested in a forming a legal battle against them?

Trgp $14.29 +.95+7% breaking out bottom of mar8-9 gap is 21.35 top 27.5. Been here since $7 great long term hold

I have been informed by tdameritrade that there were 21000 clients impacted by UWT alone. There has already been lawsuits and previous failed ETNs from Velocity Shares, others have attempted to legally address why products have not performed as intended or described. I believe when there is two products like this that are suppose to be correlated and that track the same index but are designed for typically long only clients to hedge their risk being the inverse of the other ETN (UWT and DWT) that they must to be considered legitimate products, minimally perform as described in that capacity and as others have outlined here the products have not. Neither performed as expected, with the expectation being to track the index mentioned in the prospectus and ultimately the underlying crude contracts that are supposedly held. I purchased the majority of my shares in UWT in early march 2020 and I purchased DWT in a smaller increment as a hedge against further decreasing prices. Neither tracked fluctuations in the index accordingly. When a day occured that would have resulted in a trigger event as described in the Bloomberg article here: https://www.bloomberg.com/news/articles/2020-03-09/crude-collapse-puts-exchange-traded-note-s-future-in-jeopardy which did in fact occur in after hours trading, no such acceleration occurred which was suppose to happen and there was no communication from the issuer regarding this even despite my communications to the issuer. Not only did UWT not track the rise in crude during this time but DWT did not respond accordingly either. Bloomberg also reported record inflows into the fund meaning there were new net inflows (short covering or newly initiated long (buy) positions which should have resulted in a price increase in UWT shares but this was not observable. Then, for apparently no new reason or not an articulable reason unless it was related to the former trigger event which should have been automatic according to the prospectus but apparently was not, Citigroup Velocityshares issued a news release stating that they would be "accelerating" or calling in the note but gave no specific calculations or valuations or reasoning other than a date it would occur. The shares in UWT were kept at the lowest prices they had ever traded (being issued to the market at a principal value per share of $25 while ending at 16 cents (.16) per share, near zero, essentially a total loss. While the last trading date and subsequent days saw the largest daily return in over 20 years of the front month crude contract (and other periods during the final month of trading should have showed positive returns but did not), UWT shareholders did not experience the benefit of this although presumably the firm which was holding the underlying contracts (if that is the expectation) or tracking the index did experience this yet it was not paid to shareholders. Even another ETN which tracked the same index as velocity shares showed their shareholders (of whom I was included) a return on their shares. Understand this....a separate fund, designed to track the exact same instrument and index but run by a different group showed a markly different (and more favorable) return during the exact same trading dates (the few days leading up to the close of UWT). This I believe clearly points to problems with the design and implementation (execution) and a willful and negligent misrepresentation of critical information and timely, relevant criteria that, even by their own protective language in their own prospectus, does not hold. Individual retail and even institutional customers simply look for something that in the description of the ticker indicates what it the designed to do (track crude or its inverse) and hold the security based one those presumptions. There is no debt instrument, which indicates in the prospectus a return of principal that should be issued with a principal amount of $25 and be called back in from the issue with essentially $0 returned (a full loss) ......the instrument should continue to trade until expiration or provide shareholders a return of principal. No one can rationalize allowing a debt instrument backed by a commodity to have 0 value. The commodity always has some value and can be stored. No, this fraud was artfully designed to herd investors into a safe haven instrument (oil in the last financial crisis as an example) and force a liquidation where one could not otherwise exist. Information was withheld and from the design (the nature of the security to lose value with rolls...it should not if designed and implemented correctly)...such that many causes of action arise from this. Clearly legal discovery is in order and shareholders have multiple causes of actions and legitimate complaints. Again there is a history of lawsuits being brought against Velocity Shares and this is the most overwhelming example yet of the need for litigation or simply restitution.

What do you not understand?

Well, I feel robbed. There must be something that we can do. like a massive class action lawsuit or something. I had around 600 shares and got paid $94 and some change. Each share was paid for 0.1647 aprox... so where is my money???? Total lost was $ 1500 aprox. I’m Glad that I didn’t buy more of this shit!!!! Wtf is wrong with this people.

Yeah the problem was that we couldn't find out anything on the news wires why it was so low. Nothing so we bought it on Monday. My other choices were USO and OIL and I should of stayed with those 2. Wanted that 3x money Mf'er's and then this goes down when oil went up. That's just wrong.

Well, I feel robbed. There must be something that we can do. like a massive class action lawsuit or something. I had around 600 shares and got paid $94 and some change. Each share was paid for 0.1647 aprox... so where is my money???? Total lost was $ 1500 aprox. I’m Glad that I didn’t buy more of this shit!!!! Wtf is wrong with this people.

It’s pending in my account and the shares are gone. Money hasn’t posted yet.

I haven’t been paid anything as of yet

My shares are gone o was paid .1647 which was about the last closing price which should of been up not down.
We got ripped off. Ugh

I can’t find that board from my cell, but I’ll try once I’m on my PC. Thank you

You will get your percentage.

Check the message board,

ETF ETN 1X 2X 3X

for the latest news.

No! We did too bought on Monday could not find anything on it before we got in.

No! We did too bought on Monday could not find anything on it before we got in.

Thx for the response. I didn’t know it was delisted and just purchased a few days ago...such an awful mistake.

I’m seeing mixed info out there, for UWT, Is there a chance they don’t pay anything to shareholders?

I prefer to use NRGU and XOM.

Discussion board ... Crude Oil Discussion Board

Anyone that held this till the end deserves the beating they took. Learn from your loss.Next time dont be stupid. I've been adding oil companies this week while oil was $20. I added ET DVN CLR more MRO and DNR. Tomorrow Trump Is having a discussion with CEOs of oil companies ET,DVN CLR former ceo Henry Hamm will be there. Each on will undoubtedly speak, when they do watch their respective stock go up. Trump is going to put tariffs on imported crude. He has been dropping hints along the lines if Saudis and Russians dont fix things he will. He should do it anyway. ET recently announced .30 qrtly dividend at current pps it's about 25% yrly.these are great short term and long term solid dividend paying companies.

This fund is liquidated. Your check is in the mail.

Keep up with ETF ETN news at discussion board,

ETF ETN 1X 2X 3X

Anyone that held this till the end deserves the beating they took. Learn from your loss.Next time dont be stupid. I've been adding oil companies this week while oil was $20. I added ET DVN CLR more MRO and DNR. Tomorrow Trump Is having a discussion with CEOs of oil companies ET,DVN CLR former ceo Henry Hamm will be there. Each on will undoubtedly speak, when they do watch their respective stock go up. Trump is going to put tariffs on imported crude. He has been dropping hints along the lines if Saudis and Russians dont fix things he will. He should do it anyway. ET recently announced .30 qrtly dividend at current pps it's about 25% yrly.these are great short term and long term solid dividend paying companies.

All there and accounted for. Will see what happens. Missed some other oil plays cause of fauxpaus.

Anyone else’s shares/money missing from there stock accounts?

Just waiting for that big fat check. I think some one said the pay out will be $1.56! I'll take 10x my money!

DID EVERYONE GET OUT OF THE POOL????

3x what oil does my arse liars. Scammed us big time!

YES ITS CONSIDERED A LEGAL SCAM,THE COWBOYS SCREWED YOU ALL

NOW MAYBE YOU UNDERSTAND WHY THE PRICE IS UNDER PRESSURE.

INVESTORS ARE LEAVING THIS ETN, IRREGARDLESS OF THE PRICE MOVEMENT OF CRUDE.

PLEASE NOTE, IT DOES NOT MATTER WHERE YOU THINK THE PRICE OF THIS ETN WILL GO.

IT DOES NOT MATTER WHERE YOU PURCHASED AT, EVEN IF YOU PURCHASED TODAY.

THIS ETN WILL STOP TRADING AT THE END OF THE DAY.

Just so you know ... the play is NRGU

Don't take my word on it BUT, I believe this fund will be liquidated after TODAY, April 2nd, 2020. At which point you will have to wait for Citigroup to determine what your percentage share is after liquidation. They will then send you a check. If I owned this ETN, I would sell before the end of day.

For Immediate Release
Citigroup Inc. (NYSE: C)
March 19, 2020

Citigroup Announces the Acceleration of Two Series of ETNs

NEW YORK – Citigroup Global Markets Holdings Inc. (“CGMHI”) announced today that
it will accelerate at its option, and in full, the two series of exchange-traded notes listed
in the table below (the “ETNs”).

ETN Name Exchange ETN Ticker CUSIP Underlying Index

VelocitySharesTM 3x
Long Crude Oil ETNs
NYSE Arca UWT 17325E291 S&P GSCI® Crude Oil

VelocityShares Index ER TM 3x
Inverse Crude Oil ETNs
NYSE Arca DWT 17325E309

Holders of the ETNs will receive a cash payment per ETN in an amount (the “Optional
Acceleration Redemption Amount”) equal to the closing indicative value of the
respective series of ETNs on the final valuation date of the Optional Acceleration
Valuation Period. The Optional Acceleration Valuation Period will be the period of five
consecutive index business days beginning on March 25, 2020 and expected to end on
March 31, 2020. The payment upon optional acceleration is based upon a declining
exposure to the ETNs’ underlying index over the Optional Acceleration Valuation
Period. The closing indicative value of the ETNs will be calculated on each day during
the Optional Acceleration Valuation Period so that the applicable leverage of the ETNs
does not reset after the period begins. The Optional Acceleration Redemption Amount
is expected to be paid to investors on April 3, 2020. More information on the manner in
which the Optional Acceleration Redemption Amount will be calculated, including the
circumstances in which the dates specified herein may be postponed, is available in the
pricing supplement for the ETNs, which is available at the following hyperlink:

https://www.sec.gov/Archives/edgar/data/200245/000095010320005510/dp124148_424b3-uwtdwta10.htm

As described in more detail in the pricing supplement for the ETNs, if a trigger event
occurs prior to the end of the Optional Acceleration Valuation Period, holders of the
ETNs will not receive the Optional Acceleration Redemption Amount described above,
but rather an amount determined as set forth in the pricing supplement for the ETNs.
The last day of trading for the ETNs is expected to be April 2, 2020.

Does UWT lag behind the price of WTI?

or does it anticipate movement up or down?

Why is this not going up with the price?

WTI crude oil per barrel is up 17% as I type here...

UWT is down?

Something is screwed up here.

Buying 16s !

everyone here is getting screwed. Oil up 30% and this pos is going nowhere. WOW

Has anyone read the Citi groups SEC filing? Accelerated payout?

https://www.businesswire.com/news/home/20200319005840/en/Citigroup-Announces-Acceleration-Series-ETNs

Held or hold
You must be in at a much lower rate. This fund has been trading in the $10 range for a long time. The fact where it is is undescribable for a lot of people. Tens of thousands of dollars. In fact millions. That’s just who I know. The guy that told me about this Way back. I bought 100,000 shares at $16.00
Ouch!
Im not even a third of that and im sick. It doesn’t sound very impressive when you say it on paper. But if you actually see it. The amount of shares, what you paid and then. Where you are. I can assure you it’s extremely red. I’m just wondering if this rash will ever clear up.
I cant imaging what would happen if you did go out. So would I

I’m wondering if anyone is going to open up today and discuss what is going on with our future. Because this is mine.
Of course you cannot sell when you’re not Pennys but dollars down not overall but per share. Scary times must bring patients rather than hysteria.

You don’t lose it unless you sell it. Who is willing to lose $6.80 per share to save the rest which is $.16. Are we going to hit the $1.56 on the buy out or pay off.

It looks like it’s a merger of some sort?.
Please lay it out for the Gumps of the board. Ya! Not bad huh

Re: Velocity Shares

Phone:
(877) 583-5624

Email Address:
contact@velocityshares.com

Mailing Address:
VelocityShares
17 Old Kings Highway S
Darien, CT 06820

If you are an individual investor, please contact your financial advisor for additional information regarding the products, including information regarding the risks of an investment and whether an investment may be suitable. Alternatively, you may request that your broker contact us for more information.

You held?

THEY WONT PAY ANYBODY BACK,YOU LOST YOUR DIRTY UNDERWEARS,

Any idea what the calculations will come out to for the accelerated payment? Is it the last 5 trading days avg from
March 25-31?

Nrgu?
Do tell pleazzzz
This was my retirement is down so low, I can’t sell it. I have friends that paid over 30 for this. Lots of shares. Once again thank you

I don’t see a whole lot in here but I would like to understand something. I was told that the fund is being closed. In two days? I know it is night time right now. I am working myself to death to try to get to retirement. If this goes out at this price.
Can someone please tell me if this can in fact happen and what happens if it does?

I have quite a bit of money tied up in this.
Who would have ever thought that this was possible.?
For instance,
let’s just say you have 75,000 shares.

And your average is nine dollars.

We know where it’s trading now. What happens to us?
Is this truly like a regular stock they can just go to zero would be gone? Thank you very much.

I really appreciate the private message you sent to me. In two days? I wish I could’ve had further explanation on that. I do really appreciate some explanations so I can understand. I know the world has become a very confusing place. I need to know what’s going to happen or what can happen. If anybody could share with a no, would be a blessing.

Cheers and good luck.
Most importantly,
please be safe.

If you’re younger
stay away from your folks.

UWTIF - VelocityShares 3x Long Crude Oil ETN Linked to the S&P GSCI Crude Oil Index ER
Other OTC - Other OTC Delayed Price. Currency in USD
7.20

ITS A BANKRUPT PIECE OF TRASH

Make it back with NRGU.

SHOW ME THE $$$$$$ THEY SCREWED US ALL

Sell by tomorrow or wait for liquidation check.

THIS PIECE OF TRASH IS BANKRUPT, THE OIL COWBOYS SCREWED US ALL, BAGHOLDERSLAND

The last day of trading for the UWT and DWT ETNs is expected to be April 2, 2020.


Citigroup Global Markets Holdings Inc., the issuer, has filed a registration statement (including a pricing supplement, a prospectus supplement and a prospectus) with the Securities and Exchange Commission (“SEC”) for the offerings to which this communication relates. Before you invest, you should read the pricing supplement, the prospectus supplement and the prospectus in that registration statement (Registration Nos. 333-224495 and 333-224495-03) and the other documents Citigroup Global Markets Holdings Inc. has filed with the SEC for more complete information about Citigroup Global Markets Holdings Inc. and these offerings. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request the pricing supplement, prospectus supplement and prospectus by calling toll-free 1-877-858-5407.

© 2020 Citigroup Inc. Member SIPC. All rights

GET OUT BY TOMORROW!

I heard thru the grapevine that this fund and DWT will be closed on April 2nd. Check the discussion board ETF ETN 1X 2X 3X to see what happens next when a fund is liquidated.

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