Current Report Filing (8-k)
30 Mars 2020 - 2:34PM
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2020-03-30
2020-03-30
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2020-03-30
2020-03-30
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uscift:SharesOfUnitedStatesCopperIndexFundMember
2020-03-30
2020-03-30
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UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported): March 30, 2020
UNITED STATES COMMODITY INDEX FUNDS TRUST
(Exact
name of registrant as specified in its charter)
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Delaware
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001-34833
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27-1537655
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(State or other jurisdiction
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(Commission File Number)
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(I.R.S. Employer
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of incorporation)
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Identification No.)
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1850 Mt. Diablo
Boulevard, Suite 640
Walnut Creek,
California 94596
(Address of principal executive offices) (Zip
Code)
(510)
522-9600
Registrant's
telephone number,
including
area code
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
o
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by
check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company o
If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Securities registered
pursuant to Section 12(b) of the Act:
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Title
of each class:
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Trading
Symbol(s)
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Name
of each exchange on which registered:
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Shares of United States Commodity Index Fund
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USCI
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NYSE
Arca, Inc.
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Shares of United States Copper Index Fund
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CPER
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NYSE
Arca, Inc.
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Item 1.01 Entry into a Material Definitive Agreement.
United States Commodity Funds, LLC ( “USCF”),
is the sponsor of the United States Commodity Index Funds Trust (the “Trust”), a Delaware statutory trust, and each
of its series: the United States Commodity Index Fund (“USCI”) and the United States Copper Index Fund (“CPER”).
USCF also is the general partner of six limited partnerships (together the “Limited Partnerships”): (1) the United
States Oil Fund, LP, (2) United States 12 Month Oil Fund, LP, (3) the United States Natural Gas Fund, LP, (4) the United States
Brent Oil Fund, LP, (5) the Unites States 12 Month Natural Gas Fund, LP, and (6) the United States Gasoline Fund, LP. CPER, USCI
and each of the Limited Partnerships are referred to each as a “Fund” and collectively as the “Funds.”
USCF has engaged The Bank of New York Mellon, a New York corporation
authorized to do a banking business (“BNY Mellon”), to provide the Trust and the Funds with certain custodial, administrative
and accounting, and transfer agency services, pursuant to the following agreements with BNY Mellon (together, the “BNY Mellon
Agreements”), which will be effective on or about April 1, 2020: (i) a Custody Agreement; (ii) a Fund Administration and
Accounting Agreement; and (iii) a Transfer Agency and Service Agreement, forms of which have been filed as exhibits hereto.
There is no guarantee the transition to BNY Mellon will not
be delayed to effect an orderly transition from the Trust and Funds’ current custodian, administrator and transfer agent.
The foregoing description is a summary, does not purport to
be a complete description of the BNY Mellon Agreements, and is qualified in its entirety by reference to the BNY Mellon Agreements,
forms of which are filed as Exhibits 10.1, 10.2, and 10.3 hereto and are incorporated by reference herein.
Item 1.02 Termination of a Material Definitive Agreement.
USCF and the Trust, and Brown Brothers Harriman and Co., a
limited partnership organized under the laws of the State of New York (“BBH”), entered into (1) a Custodian Agreement
dated as of July 22, 2010, as amended from time to time (the “BBH Custodian Agreement”), pursuant to which BBH provides
certain custodial services for the Trust and each series thereof, and (2) an Administrative Agency Agreement made as of July 22,
2010, as amended from time to time (the “BBH Administrative Agreement”, and together with the Custodian Agreement,
the “BBH Agreements”), pursuant to which BBH provides certain administrative and transfer agency services to the Trust
and each series thereof.
USCF and the Trust have provided BBH with notice of their
intent to terminate the BBH Agreements. Pursuant to such notices, the BBH Custodian Agreement is scheduled to terminate as of March
30, 2020 and the BBH Administrative Agreement is scheduled to terminate on May 31, 2020 to allow for certain reporting and other
services to continue in connection with the transition to BNY Mellon. There is no guarantee that the respective termination dates
will not be delayed to effect an orderly transition of services from BBH to a successor service provider. There are no termination
penalties to be incurred by the USCF or the Trust or BBH in connection with the termination of the BBH Agreements.
The foregoing description is a summary, does not purport to
be a complete description of the BBH Agreements, and is qualified in its entirety by reference to the BBH Agreements, forms of
which were filed as Exhibits 10.4, 10.5, 10.6, 10.7, 10.17 and 10.18 to the Trust’s Annual Report on Form 10-K for the year
ended December 31, 2019, filed on March 13, 2020 and are incorporated by reference herein.
Item 9.01 Financial Statements
and Exhibits
(d) Exhibits.
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are subject to risks and uncertainties, including, without limitation, statements regarding USCF’s
and the Trust’s expectations regarding the completion of the transition, by April 1, 2020, from BBH to BNY Mellon as contemplated
by the BNY Mellon Agreements and the termination of the BBH Agreements. Statements containing words such as “may,”
“will,” “expect,” “anticipate,” “believe,” “intend,” “plan,”
“project,” “should,” “estimate,” “seek” or any negative or other variations on
such expression constitute forward-looking statements. These forward-looking statements are based on information currently available
to USCF and are subject to a number of risks, uncertainties and other factors, both known and unknown, that could cause the actual
results, performance, prospects or opportunities of the Trust and the Funds to differ materially from those expressed in, or implied
by, these forward-looking statements.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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UNITED
STATES COMMODITY INDEX FUNDS TRUST
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By:
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United
States Commodity Funds LLC, its general partner
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By:
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/s/
Stuart Crumbaugh
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Date: March
30, 2020
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Name:
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Stuart Crumbaugh
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Title:
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Chief Financial
Officer
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United States Copper (AMEX:CPER)
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