ETN call question

[archer]

I have been holding NIB (cocoa ETN) in fidelity for a month or so. As of today I noticed it is not listed by it's ticker but rather it's Cusip. According to Fidelity, this is because it is being called on June 14. 

What actually happens when an ETN is called, and are there pros and cons to continuing to hold or exiting? Is the issued amount predetermined or is it whatever the market price is a the time of the call?

Edit: Actually upon further investigation, it appears it is no longer available to buy or sell through Fidelity, at least as an online trade, and that I am stuck with the June 14 outcome. 

[Fearchar]

Total Assets were only $13.2 MIL according to MorningStar.

So, the vendor must have decided to just shut it down.

[liftlock]

ETNs are bonds. The call provisions would normally be listed in the offering document for the ETN.

ipathetn.barclays/details.app;instrumentId=31020

[archer]

Fearchar,liftlock,

Thanks for the info. From the prospectus, it appears the call price will be the closing price as of the end of the day last Wed, but it was a little unclear. Anyway, at this point it is what it is. I'll update with the redemption value when it is distributed on the 14th.

[archer]

Today I was paid the closing price of the last trading day when the fund was called. It had a good run while I owned it.