GraniteShares Files Three Autocallable ETFs Tied to Chip Stocks

GraniteShares has filed for three actively managed ETFs designed to generate current income through autocallables linked to Micron Technology (MU), Sandisk (SNDK) and SK hynix (SKHY). Each fund would invest at least 80% of assets in derivatives referencing autocallables on its respective stock, primarily using swaps and OTC options, with the aim of making monthly distributions. The structures can pay coupons while the underlying remains above preset barriers and may redeem early if the shares reach an autocall level. Upside is capped through coupon payments, while investors can face the stock’s full downside if it falls below the maturity barrier. The filings specify autocallable barriers of 95%-105% of the initial share price and coupon and maturity barriers ranging from 50%-95%.