Does anyone know if XIV will continue to trade contacts right up to the close? Or is Credit Suisse done trading contracts and what ever the ETN's contracts were worth yesterday is what XIV will close at later this month?  From what I have read they will continue to trade contracts per the prospectus. 

If CS continues to trade contracts, and the VIX goes down, and people capitulate, could the ETN's contracts be worth more on the closing day than what XIV is trading at - thus when funds are dispersed, you may get more funds than what the underlying XIV shares were worth?  In other words, if the XIV is way oversold, could the ETN's contracts/share be worth more than the closing price of XIV?

Below is from the prospectus- it addresses a trading premium but what if XIV closes at a trading discount - the funds you receive would be greater than the value of the XIV shares - correct?

Any

limitation or suspension on the issuance of the ETNs may materially and adversely affect the price and liquidity of the ETNs in the

secondary market. Alternatively, the decrease in supply may cause an imbalance in the market supply and demand, which may cause the

ETNs to trade at a premium over the indicative value of the ETNs. Any premium may be reduced or eliminated at any time. Paying a

premium purchase price over the indicative value of the ETNs could lead to significant losses in the event the investor sells such ETNs at a

time when such premium is no longer present in the market place or such ETNs are accelerated (including at our option, which we have the

discretion to do at any time), in which case investors will receive a cash payment in an amount equal to the Closing Indicative Value on the

Accelerated Valuation Date (each as defined herein). Investors should consult their financial advisors before purchasing or selling the ETNs,

especially for ETNs trading at a premium over their indicative value.