Deutsche Bank will issue three Exchange-Traded Notes (ETNs) linked to the Deutsche Bank Liquid Commodity Index – Optimum Yield GoldTM that will be traded on the NYSE Arca, listed as follows:
-DB Gold Double Short ETN (NYSE Arca: DZZ)
-DB Gold Double Long ETN (NYSE Arca: DGP)
-DB Gold Short ETN (NYSE Arca: DGZ)
The ETNs will be the first to offer investors short or leveraged exposure to gold: the DB Gold Double Short ETNs offer investors exposure to two times the monthly inverse performance of the gold index plus a monthly T-Bill index return; the DB Gold Double Long ETNs offer investors exposure to two times the monthly performance of the gold index plus a monthly T-Bill index return; and the DB Gold Short ETNs offer investors exposure to the monthly inverse performance of the gold index plus a monthly T-Bill index return. All of the securities are subject to an investor fee.
Each of the three ETNs are senior unsecured obligations of Deutsche Bank. Each security being offered has separate terms and offers investors a different type of monthly exposure to a total return version of the Deutsche Bank Liquid Commodity Index – Optimum Yield Gold. Investors can subscribe to any of the three offerings. Deutsche Bank will issue the securities in denominations of $25.
“We are thrilled to issue three ETNs which will allow investors a simple way to take a leveraged or short view on the price of gold. We are committed to creating innovative commodity investment products for all investors,” says Kevin Rich, managing director, Deutsche Bank’s Global Markets Investment Products group.