WisdomTree Commodity Securities Limited
LEI: 21380068Q1JSIAN4FO63
16 December 2022
WisdomTree Commodity Securities Limited (the "Issuer")
Rebalance of Index Securities
We refer to a notice of the Issuer dated 8November 2022 (the "Initial Notice"). Terms not defined herein shall have the meaning ascribed to them in the Initial Notice. This notice should be read in conjunction with the Initial Notice.
The 2023 Rebalance will commence on Monday 9 January 2023. Consequently, each of the twenty-eight categories of Index Securities (comprising eighteen categories of Classic Index Securities and ten categories of Longer Dated Index Securities) as set out in the Prospectus of WisdomTree Commodity Securities Limited (the "Issuer") dated 14 December 2022 will also be rebalanced.
As explained in the Prospectus, this will be done by adjusting the number of Micro Securities comprised in each Index Security. The rebalancing itself will not change the value of any Index Security and no action is required on the part of Security Holders. The rebalancing does not affect the fifty-one classes of Individual Securities (comprising twenty-eight classes of Classic Individual Securities and twenty-three classes of Longer Dated Individual Securities).
The timetable for the 2023 Rebalance of the Index Securities is as follows:
Friday 6 January 2023
The target number of Micro Securities to be increased/decreased for each commodity in each Index Security will be determined using Friday 6 January 2023's settlement prices.
Tuesday 10 January 2023, Wednesday 11 January 2023, Thursday 12 January 2023, Friday 13 January 2023
At the beginning of each of these days, the number of Micro Securities will be adjusted, based on the targeted changes and the actual previous day's closing prices, and the updated number of Micro Securities for each class of Index Security in issue will be available prior to trading commencing on the Issuer's website at:
https://www.wisdomtree.eu/en-gb/pricing/wisdomtree-commodity-securities-limited-classic
and
https://www.wisdomtree.eu/en-gb/pricing/wisdomtree-commodity-securities-limited-longer-dated
Final Rebalance Date
The final number of Micro Securities in each Index Security following the rebalancing will be announced prior to the opening of trading. (Note, however, if there is a Market Disruption Event for a commodity then the rebalance period in respect of the Micro Securities for any Index Security containing that commodity will be extended by way of Extended Voluntary Rebalancing).
The table below shows (i) the existing weighting of each commodity for the Classic Securities and the Longer Dated Securities, as measured by the effective weight at current commodity prices in the WisdomTree Broad Commodities Index Security (for the Classic Securities) or the WisdomTree Broad Commodities Longer Dated Index Security (for the Longer Dated Securities), and (ii) the targeted new weighting of each commodity for the Classic Securities and the Longer Dated Securities, based on the Commodity Index Percentage to be used in the rebalancing of Bloomberg Commodity Index (Classic Securities) or Bloomberg Commodity Index 3 Month Forward (Longer Dated Securities).
| | Existing weights based on current commodity prices (Classic securities)* | Existing weights based on current commodity prices (Longer Dated securities)* | Targeted weights based on new CIPs for the BCOM (Classic securities) | Targeted weights based on new CIPs for the BCOMF3 (Longer Dated securities) |
| Natural Gas | 11.33% | 12.93% | 7.94% | 7.94% |
| WTI Crude Oil | 7.83% | 8.30% | 7.77% | 7.77% |
| Brent Crude Oil | 7.69% | 6.89% | 7.23% | 7.23% |
| Unleaded Gasoline | 2.39% | 2.27% | 2.20% | 2.20% |
| Heating Oil | 3.18% | 2.73% | 2.10% | 2.10% |
| Low Sulphur Gas Oil | 3.92% | 3.52% | 2.71% | 2.71% |
| Aluminium | 3.02% | 3.01% | 4.09% | 4.09% |
| Copper (COMEX) | 4.10% | 4.06% | 5.23% | 5.23% |
| Zinc | 2.56% | 2.56% | 2.91% | 2.91% |
| Nickel | 3.30% | 3.27% | 2.78% | 2.78% |
| Gold | 12.93% | 12.84% | 14.85% | 14.85% |
| Silver | 4.29% | 4.24% | 4.59% | 4.59% |
| Live Cattle | 3.25% | 3.14% | 3.32% | 3.32% |
| Lean Hogs | 1.57% | 1.66% | 1.74% | 1.74% |
| Wheat | 2.37% | 2.59% | 2.79% | 2.79% |
| Kansas Wheat | 1.62% | 1.62% | 1.75% | 1.75% |
| Corn | 5.65% | 5.74% | 5.51% | 5.51% |
| Soybeans | 6.06% | 5.90% | 5.78% | 5.78% |
| Sugar | 2.81% | 2.64% | 2.56% | 2.56% |
| Cotton | 1.16% | 1.12% | 1.56% | 1.56% |
| Coffee | 1.86% | 1.83% | 2.86% | 2.86% |
| Soybean Oil | 3.36% | 3.39% | 3.26% | 3.26% |
| Soybean Meal | 3.73% | 3.75% | 3.53% | 3.53% |
| Lead | 0.00% | 0.00% | 0.94% | 0.94% |
| Total | 100% | 100% | 100% | 100% |
| | | | | |
| *As of 16 December 2022 | | | | |
A further notice will be issued following the completion of the 2023 Rebalance informing holders of the updated composition of the Index Securities.
Terms not defined in this notice shall have the meaning ascribed to them in the Issuer's Prospectus
For further information, please contact: europesupport@wisdomtree.com