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VelocityShares’ risky triple-leveraged oil notes find new life

A volatile oil play popular with millennial investors found new life Thursday, with two new exchange-traded notes announced just as the originals were delisted.

While Credit Suisse CS, +1.93% deslisted the VelocityShares 3x Long Crude ETN UWTI, +5.89% and VelocityShares 3x Inverse Crude Oil ETN DWTI, -5.52% on Thursday, moving them to a less accessible over-the-counter market, VelocityShares said Citigroup C, +1.85% would launch two nearly identical products starting Friday: the VelocityShares 3x Long Crude Oil ETN (UWT) and VelocityShares 3x Inverse Crude Oil ETN (DWT).

Despite their similarities, the new notes are entirely separate products.

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