ISIN : XS3556798455

3x Long Anthropic

NAV as of listing

$10.00 (Issue Price)

Current Phase

Not yet listed

Capital à risque. NAV calculée par Leverage Shares. Pour en savoir plus sur le calcul, cliquez ici

3x leveraged ETP listing in:

IPO day in:

First European 3x session in:

days

hours

minutes

CET

How IPO Day Works

Admitted to trading on the London Stock Exchange at a $10 issue price. Also in GBP and EUR. Other European exchanges as indicated below”

Pre-IPO capacity

$0 of $25m

0% used. Creations close at $25m or at the end of Wed 18 Nov. Live figure from creations

See the Timeline

The pre-IPO cash pool of $25 million is full. You can still buy existing units on exchange, but with no new units being created the price may be above the value of the cash the ETP holds.

Pre-IPO capacity

$0m of $25m

Creations are paused until IPO day.

See the Timeline

Anthropic’s shares begin trading on Nasdaq. Once Anthropic’s opening auction on Nasdaq ends, the ETP buys shares worth 3x the cash pool and we publish by RNS the Execution Price. The first regular trading session on European exchanges / LSE with 3x exposure to Anthropic share price is (a) on this date if Anthropic’ s opening auction uncrosses during Regular Trading Hours or (b) otherwise on the next trading day. Note: some German exchanges offer trading until 22.00 CET, so some European investors may be able to trade the ETP with 3x exposure to the Execution Price.

See What Happens Today

The ETP bought its position on Anthropic’s first trading day and now targets 3x Anthropic’s daily return, rebalanced at each US close. First exposure is 3x to the Execution Price and from today, to the previous days’ closing price.

IPO Day, live

Execution Price

$##.##

Published

[20 Nov, 18:52 CET]

Présentation

Qu'est-ce que le 3x Long Anthropic ETP ?

The Leverage Shares 3x Long Anthropic ETP (ISIN XS3556798455) is an exchange traded product (ETP) that holds cash until Anthropic, PBC’s IPO and then seeks to deliver up to three times (3x) the daily performance of Anthropic’s shares. Until IPO day it earns the Fed Funds rate minus 1%, charges no management fee and gives no exposure to Anthropic. Shortly after Anthropic’s Nasdaq opening auction it buys shares worth up to three times its cash. It achieves leverage through margin borrowing and has physical ownership of the underlying, so it does not use swaps or other derivatives. An intraday rebalance mechanism (“airbag”) is designed to cushion the largest intra-day moves, triggering at 16.67%. You cannot lose more than the amount you invest. It is designed for short term trading and should be monitored daily.

Objectif de l'ETP

Before the IPO: to hold cash. From IPO day: to seek daily investment results, before fees and expenses, that correspond to 300% (3x) the daily performance of Anthropic’s common stock, measured on IPO day from the Execution Price.

À qui s'adresse ce produit ?

Investisseurs avertis et traders actifs souhaitant amplifier des anticipations haussières à court terme ou couvrir tactiquement leurs positions, grâce à un effet de levier transparent et sans compte sur marge.

*However, these are complex products.

Valeur des actifs sous-jacents

$###,###,###

No shares until IPO day

AUM

$###,###,###

Cash, earning Fed Funds −1%

Passifs

$###,###,###

Margin borrowing starts on IPO day

IPO day Timeline

When (CET)	What happens	Status
, 09:00	The ETP lists in Europe, holding cash	Done Next Upcoming
, Close	Cash pool closes; IPO day confirmed by RNS	Done Next Upcoming
, ~17:30–19:00	Anthropic opens on Nasdaq; we execute as quickly as we can after the open, buy up to 3x the cash and publish the Execution Price	Done Next Upcoming
, 22:00	First reset to 3x at the US close; creations reopen (if closed)	Done Next Upcoming
, 09:00	First LSE and Borsa Italiana session with 3x exposure	Done Next Upcoming

Illustrative dates. Final dates are confirmed by RNS. Large Nasdaq IPOs usually open after the LSE and Borsa Italiana close at 17:30 CET. German venues with extended hours may still be open, but trading is suspended until the Execution Price is published [TBC with Listings].

IPO Day Hypothetical Calculator

Opening Price vs Offer

−50% 0 +100%

This jump happens before anyone can buy on the exchange, including this ETP.

Execution Price vs opening

−10% 0 +10%

The price the ETP pays for its shares, compared with the first trade.

US Close vs Opening

−50% 0 +50%

Where the share price ends the first trading day.

US Close Cash Pool Before IPO Day

$1m $25m

Sets how many shares the ETP buys. It does not change your percentage return.

IPO-day return of the ETP at the US close, before fees

Cotations et tickers

Bourse	Devise de base	Devise de négociation	Code de bourse	ISIN	SEDOL	BBG Ticker	WKN	Date de cotation
London Stock Exchange	USD	USD	ANT3	XS3556798455	BWJHR48	ANT3 LN	N/A	12 Nov 2026
London Stock Exchange	USD	GBP	3ANT	XS3556798455	BWJHR59	3ANT LN	N/A	12 Nov 2026
London Stock Exchange	USD	EUR	ANTE	XS3556798455	C0QLWS7	ANTE LN	N/A	12 Nov 2026
Borse Stuttgart	USD	EUR	N/A	XS3556798455	N/A	N/A	N/A	12 Nov 2026
Gettex	USD	EUR	N/A	XS3556798455	N/A	N/A	N/A	12 Nov 2026
Quotrix	USD	EUR	N/A	XS3556798455	N/A	N/A	N/A	12 Nov 2026

Informations clés

Détails de l'indice

Sous-jacent: Anthropic, PBC
Sous-jacent: Cash

Phase actuelle: Not Yet Listed
Facteur de levier: 3x

Structure

Structure: ETP
Domicile: Irlande
Méthode de réplication: Physique

Dividendes: No
Sous-jacent: ANT
Pondérations cibles
Fréquence de rééquilibrage

Frais

Commission de gestion annuelle: [0.75%], from IPO day
Intérêts versés sur les soldes de liquidités: Fed Funds Effective (Overnight Rate) -1%
Frais pendant la phase de liquidités: None

Commission de performance
Taux d'emprunt de titres

Fiscalité et aspects juridiques

ISA: Éligible
SIPP: Éligible

UK Fund Reporting Status: No
US IRS Sec 871(m): Sans objet

Pays passeportés :

United Kingdom

Principaux prestataires de services

Émetteur: Leverage Shares plc
Arrangeur: Leverage Shares Management Company Limited
Trustee: Apex Corporate Trustees (UK) Limited
Agent émetteur et payeur: U.S. Bank Europe DAC
Teneur de registre: U.S. Bank Europe DAC
Administrateurs du portefeuille: Flexinvest Limited
Fournisseur d'emprunt de titres et dépositaire: Interactive Brokers LLC and/or Morgan Stanley & Co. LLC and/or Pershing LLC
Agent de détermination: Calculation Agent Services LLC
Participant autorisé initial: BNP Paribas Arbitrage S.N.C.
Sponsor

Pre-IPO Risks

No exposure before the IPO

Until the opening auction the ETP holds cash only. It does not move with Anthropic news or the IPO price range.

IPO delay or cancellation

The IPO may be postponed or never happen. The cash phase could last longer, and the ETP may be redeemed early in some cases.

Execution Price risk

The ETP buys in a fast-moving new market. Its Execution Price may differ widely from the opening price.

Price above cash value

When creations are paused, demand can push the exchange price above the ETP’s assets. That premium can disappear when creations reopen.

Trading halts and gaps

Exchanges can halt trading, including on IPO day. If the LSE and Borsa Italiana have closed when we buy, you hold 3x through the US session and may not trade until the next session.

Leverage and total loss

Returns reset daily and compound. A fall of more than 16.67% triggers the airbag after a loss of about 50%. You can lose all you invest, but not more.

Avis

Questions fréquentes sur 3x Long Anthropic ETP

Tout déplier

Units in an ETP whose only asset is cash. The cash earns the Fed Funds rate minus 1%, and no management fee is charged. You have no exposure to Anthropic until the opening auction ends.

No. The ETP does not take part in the IPO allocation or the opening auction. It buys on the exchange once the first price is known. Any rise from the offer price to the opening price is not captured.

Shortly after Anthropic’s Nasdaq opening auction. The ETP buys shares worth up to three times its cash, executing as quickly as it can after the open, and publishes the Execution Price by RNS. IPO-day performance is measured from that price.

Large Nasdaq IPOs usually open after the LSE and Borsa Italiana close at 17:30 CET. German venues with extended hours may still be open, but trading will be suspended while the Execution Price is being determined and until it is published. On the LSE and Borsa Italiana, the first session with 3x exposure is the next business day from 09:00 CET.

Creations pause so the first purchase stays small enough to complete quickly after Anthropic opens. Creations reopen on IPO day. You can still trade existing units on exchanges, but the price may rise above the cash value.

The ETP stays in cash, keeps earning interest and charges no management fee. You can sell on exchange whenever it is trading. The issuer may redeem the ETP early in certain cases, particularly if the IPO is delayed for an extended period of time or without a new date in the near future.

None during the cash phase. From IPO day, an annual management fee of 0.75% applies, plus margin interest on the borrowed amount. See the KID for total costs.

Through margin borrowing and/or other financial arrangements. It has physical ownership of the underlying and does not use swaps or other derivatives.

An exchange traded product, not an ETF. ETPs are structured as debt securities and lie outside the remit of UCITS. It trades on exchange like a share.

Leveraged ETPs are designed for short-term trading. Over more than one day, returns may differ from 3x Anthropic’s return because of daily rebalancing and compounding.

You cannot lose more than you invest, but you can lose all of it. The airbag, triggering at a 16.67% intraday fall, is designed to cushion the largest moves.

Through any broker with access to the exchanges in Listings & Tickers. You do not need a margin account.

No. Leverage Shares is not affiliated with, sponsored or endorsed by Anthropic, PBC.