Credit Suisse’s Infamous ETN Misadventure May Be Limping to End

UBS Group AG’s abrupt takeover of Credit Suisse Group AG may mark the beginning of the end for one of the industry’s more notorious franchises.

At one point one of the largest issuers of exchange-traded notes — cousins of exchange-traded funds that come with a riskier reputation — Credit Suisse has been at the heart of some of the business’s ugliest moments.

Most notably, it was a Credit Suisse ETN that played a starring role in 2018’s ‘Volmageddon’ episode. Two years later, an oil note run by the bank was also wiped out when crude prices turned ...