Feb. 9 (Bloomberg) -- Deutsche Bank AG said it is suspending new-share creation in seven of its PowerShares DB exchange-traded notes linked to commodities and agriculture.
The ETNs affected are the Commodity Double Short, Commodity Double Long, Commodity Short, Commodity Long, Agriculture Double Short, Agriculture Short and Agriculture Long, the bank said today in an e-mailed statement.
“Trading of the ETNs will not be affected by this suspension, but the products will not be issuing new units to the market,” Deutsche Bank said. “Redemptions of units will continue as described in the prospectus.”
Separately, the bank will adjust the underlying indexes that some of the ETNs are linked to, starting Feb. 16, to reflect a more diversified holding of wheat futures. While the percentage of the index holdings for wheat won’t change, they will add contracts on the Kansas City Board of Trade and the Minneapolis Grain Exchange to those from the Chicago Board of Trade, the bank said.
--Editors: Steve Stroth, Patrick McKiernan
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