VZZB‘s intraday indicative (Yahoo) value dropped below $10 Friday October 5th, triggering its automatic termination event. According to the prospectus the holders of record will receive a cash payout value set by the closing intraday indicative value (IV) for the day—provided it is between 0 and 10. Since the final IV was 10.45, the redemption value will be set to 10.00 according to the way I read the prospectus. Barclays 2x med-term VIX futures ETN has a market cap is less than $1 million, so not many people affected. For more see Deathwatch for VZZB.
Friday, October 5th, 2012 | Vance Harwood