Leverage Shares PLC Rebalance and Series Termin Notice 3xPlug Power (1425T)
November 10 2023 - 10:46AM
UK Regulatory
TIDMPLU3 TIDM3PLU TIDM3PLE
RNS Number : 1425T
Leverage Shares PLC
10 November 2023
Leverage Shares plc
10 November 2023
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF
THE HOLDERS OF THE ETP SECURITIES. IF ANY ETP SECURITYHOLDER IS IN
ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT
THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS IMMEDIATELY
If you have recently sold or otherwise transferred your entire
holding(s) of ETP Securities referred to below, you should
immediately forward this notice to the purchaser or transferee or
to the stockbroker, bank or other agent through whom the sale or
transfer was effected for transmission to the purchaser or
transferee.
Notice to ETP Securityholders of the following series of ETP
Securities issued by Leverage Shares plc (the "Issuer")
Leverage Shares 3x Plug Power ETP Securities (ISIN: XS2675718212
)
(the "Relevant Series")
NOTICE OF INTRADAY REBALANCE AND ISSUER CALL REDEMPTION
Capitalised terms used, but not defined, in this notice shall
have the meaning given thereto in the Amended and Restated Master
Definitions Schedule dated 18 October 2023 in relation to the
Issuer's collateralised exchange traded securities programme.
The Issuer hereby gives notice of the following:
1. At 09:30:00 ET on 10 November 2023 (the "Trigger Time"), the
price of Plug Power Inc., the Reference Asset for the Relevant
Series reached a trading price of US$3.70 on exchange (the "Trigger
Value"), representing a drop of -37.60% from its previous closing
price of US$ 5.93, thereby crossing the 16.67% as set out in the
index methodology for the iSTOXX Leveraged 3x PLUG Index.
The event triggered an intraday rebalance of the Index, which in
turn triggered an intraday rebalance of the ETP Securities of the
Relevant Series as provided for in the Base Prospectus of the
Issuer.
The Issuer carried out an intraday rebalance following the
Trigger Time, selling all the shares in the Reference Asset and
achieving an average price of $3.866 and setting an ETP Security
Value below $0.0.
2. In accordance with Condition 8.6 of the Terms and Conditions
of the ETP Securities of the Relevant Series, the Issuer hereby
gives notice of redemption (the "Issuer Call Redemption Notice") of
all the outstanding ETP Securities of the Relevant Series effective
on 16 November 2023 (the "Mandatory Redemption Date"). The
Mandatory Redemption Amount payable per ETP Security will be
$0.
If you have any queries arising from this notice, please contact
us at info@leverageshares.com .
Yours sincerely
The Directors
Leverage Shares plc
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END
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