Leverage Shares issues intraday rebalance notice for 3x Long Nebius ETP
Leverage Shares plc has issued an intraday rebalance notice after Nebius Group NV shares fall sharply enough to breach the trigger threshold for its leveraged exchange-traded product. The move affects the Leverage Shares 3x Long Nebius ETP listed under ISIN XS3299461692 and resets the product's reference value following the market decline.
Highlights
- Leverage Shares triggered an intraday rebalance for its 3x Long Nebius ETP at 09:30:01 EST on 12 November 2026 when Nebius Group NV dropped 22.09% to $120.52.
- The rebalance was executed over a 10-minute window using the $120.52 trigger price, achieving an average rebalance price of $129.02815 and setting ETP value at $0.82962.
- Intraday rebalance aligns leveraged product exposure after the sharp underlying decline and constitutes a material operational event without affecting the ETP's exchange listing.
Trigger event and rebalance terms
As reported by London Stock Exchange, Leverage Shares plc says the trigger event occurs at 09:30:01 EST on 12 November 2026, when Nebius Group NV, the reference asset for the Leverage Shares 3x Long Nebius ETP, trades at $120.52 on exchange. That price marks a 22.09% drop from the previous closing price of $154.69, crossing the minus 16.67% threshold set out in the methodology for the Euronext 3x Long Nebius Index.The breach triggers an intraday rebalance of the index, which in turn activates an intraday rebalance of the ETP securities under the product prospectuses. Starting five minutes after the trigger time, the issuer carries out the rebalance over the following 10-minute period using the trigger value as the reference.
Leverage Shares says the process achieves an average price of $129.02815 and sets an ETP security value of $0.82962 after the rebalance.
Implications for leveraged product investors
Intraday rebalances are designed to reset leveraged products after sharp market moves, helping align exposure with the index methodology during volatile trading. In this case, the adjustment follows a steep decline in the underlying stock and changes the value basis for the 3x Long Nebius product during the same trading session.The notice does not announce any change to the listing itself, but it signals a material operational event for investors in the ETP. Leverage Shares directs holders with questions arising from the notice to contact the issuer through its published investor email.
We have also discussed the broader context around the Ibovespa plunge as volatility spiked and a circuit breaker was triggered.
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