Monitor UNG's total net assets relative to the new $200 million threshold; a decline below this level could trigger an additional termination event under the ISDA agreement, potentially impacting the fund's ability to maintain its swap positions.
Price Chart
Executive Summary
United States Natural Gas Fund, LP (UNG) amended its ISDA Master Agreement with Société Générale, reducing the Total Net Assets (TNA) Decline Event Additional Termination Event threshold from $1.5 billion to $200 million. The amendment is intended to ensure the termination event is not triggered absent a credit event, reflecting the fund's current performance.
Key Facts
- Amendment dated October 13, 2026 to the ISDA 2002 Master Agreement with Société Générale.
- TNA Decline Event threshold reduced from $1.5 billion to $200 million for UNG.
- Threshold for other Party B entities remains at $1.5 billion.
- Amendment intended to ensure TNA ATE is not triggered absent a credit event.
Financial Impact
No financial figures reported; amendment adjusts a contractual termination threshold from $1.5 billion to $200 million.
Risk Factors
- If UNG's TNA falls below $200 million, the ISDA agreement's termination event could be triggered.
- The reduced threshold reflects the fund's performance, indicating a significant decline in net assets since the original agreement.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0002071876-26-000249 |
| Document: i26416_ex10-16.htm | 0002071876-26-000249 |
| Document: 0002071876-26-000249-index-headers.html | 0002071876-26-000249 |
| Document: 0002071876-26-000249-index.html | 0002071876-26-000249 |
| Document: 0002071876-26-000249.txt | 0002071876-26-000249 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $10.66 | awaiting T+20 | — | $9.47 (−11.20%) |
Sep 29, 2026 27d ago | 8-K | $10.35 | awaiting T+20 | — | $9.47 (−8.54%) |
Sep 25, 2026 4w ago | 8-K | $10.79 $9.56 | ▼ −11.40% | ▼ −11.37% | $9.47 (−12.27%) |
Aug 28, 2026 8w ago | 8-K | $10.33 $10.79 | ▲ +4.45% | ▲ +4.19% | $9.47 (−8.36%) |
Jul 29, 2026 12w ago | 8-K | $9.93 $10.41 | ▲ +4.83% | ▼ −0.19% | $9.47 (−4.67%) |
Feb 27, 2026 34w ago | 8-K | $11.52 $12.28 | ▲ +6.60% | ▲ +14.15% | $9.47 (−17.83%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers