NEW YORK, June 8, 2021 /PRNewswire/ -- On June 7, 2021, Credit Suisse declared coupon
payments for the following ETNs:
|
ETN
Ticker
|
ETN
Name
|
Closing
Indicative
Value on
5/28/21
|
Ex-Date
|
Record
Date
|
Payment
Date
|
Coupon
Amount
per ETN
|
Coupon
Frequency
|
Current
Yield1
|
|
REML
|
Credit Suisse
X-Links®
Monthly Pay
2xLeveraged
Mortgage REIT ETN
|
$
7.2516
|
6/10/21
|
6/11/21
|
6/21/21
|
$0.0313
|
Monthly
|
15.40%2
|
On June 8, 2021, Credit Suisse
announced expected coupon payments for the following ETNs:
|
ETN
Ticker
|
ETN
Name
|
Closing
Indicative
Value on 5/28/21
|
Ex-Date
|
Record
Date
|
Payment
Date
|
Expected
Coupon
Amount
per ETN3
|
Coupon
Frequency
|
Expected
Current
Yield4
|
|
USOI
|
Credit Suisse
X-Links® Crude
Oil Shares
Covered Call
ETN
|
$
4.9404
|
6/21/21
|
6/22/21
|
6/25/21
|
$0.0657
|
Monthly
|
21.38%5
|
|
GLDI
|
Credit Suisse
X-Links® Gold
Shares
Covered Call
ETN
|
$
9.1416
|
6/21/21
|
6/22/21
|
6/25/21
|
$0.0591
|
Monthly
|
12.12%5
|
|
SLVO
|
Credit Suisse
X-Links® Silver Shares
Covered Call ETN
|
$
6.4476
|
6/21/21
|
6/22/21
|
6/25/21
|
$0.1251
|
Monthly
|
26.63%5
|
|
|
|
1.
|
For each ETN, the
Current Yield equals the Coupon Amount, annualized and divided by
the Closing Indicative Value, as discussed in more detail
below. The Current Yield, which is based on an ETN's Coupon
Amount and its two most recent coupon payments, is not indicative
of future coupon payments, if any, on the ETNs. In
particular, future coupon payments on an ETN may differ
significantly from its Current Yield, if its Closing Indicative
Value fluctuates widely in a volatile market. You are not
guaranteed any coupon payment or distribution under the ETNs.
Coupon payments for the ETNs (if any) are variable and do not
represent fixed, periodic interest payments. The Coupon
Amount for any ETN may vary significantly from coupon period to
coupon period and may be zero. Accordingly, the Current Yield
will change over time, and such change may be significant. Any
payment on the ETNs is subject to Credit Suisse's ability to pay
its obligations as they become due. For more information
regarding any ETN's coupon payments, please refer to such ETN's
pricing supplement.
|
|
|
|
2.
|
The Current Yield for
the ETN equals the sum of (i) the Coupon
Amount plus (ii) the amount of the ETN's two most
recent coupon payments, multiplied by four (to annualize
such amounts), divided by the Closing Indicative Value, and
rounded to two decimal places for ease of analysis.
|
|
|
|
3.
|
On May 17, 2021, the
Credit Suisse Nasdaq Gold FLOWSTM 103 Index, the Credit
Suisse Nasdaq Silver FLOWSTM 106 Index and the Credit
Suisse Nasdaq WTI Crude Oil FLOWSTM 106 Index (the
"Indices") concluded the notional sale of options on GLD shares,
SLV shares and USO shares, respectively, with June 2021
expiration. We expect that the notional cash distribution
generated by this sale of options will be withdrawn from the
Indices on June 14, 2021, subject to adjustment in the event of any
market disruption events. Assuming no redemption or
acceleration of GLDI, SLVO and USOI, and that the notional cash
distribution is withdrawn from the Indices on June 14, 2021, we
expect to declare a Coupon Amount for GLDI, SLVO and USOI,
respectively, equal to the corresponding Expected Coupon
Amount. The Expected Coupon Amount is subject to change
upon the occurrence of a disruption event or other unforeseen
circumstances.
|
|
|
|
4.
|
For each ETN, the
Expected Current Yield equals the Expected Coupon Amount annualized
and divided by the Closing Indicative Value, as discussed in more
detail below. The Expected Current Yield, which is based on
an ETN's Expected Coupon Amount and its two most recent coupon
payments, is not indicative of future coupon payments, if any, on
the ETNs. In particular, future coupon payments on an ETN may
differ significantly from its Expected Current Yield, if its
Closing Indicative Value fluctuates widely in a volatile
market. You are not guaranteed any coupon payment or
distribution under the ETNs. Coupon payments for the ETNs (if
any) are variable and do not represent fixed, periodic interest
payments. The Expected Coupon Amount for any ETN may vary
significantly from coupon period to coupon period and may be zero.
Accordingly, the Expected Current Yield will change over
time, and such change may be significant. Any payment on the
ETNs is subject to Credit Suisse's ability to pay its obligations
as they become due. For more information regarding any ETN's
coupon payments, please refer to such ETN's pricing
supplement.
|
|
|
|
5.
|
The Expected Current
Yield for the ETN equals the sum of (i) the Expected Coupon
Amount, plus (ii) the amount of the ETN's two most
recent coupon payments, multiplied by four (to annualize
such amounts), divided by the Closing Indicative Value, and
rounded to two decimal places for ease of analysis. The
Expected Current Yield is subject to change upon the occurrence of
a disruption event or other unforeseen circumstances.
|
Press Contact
Anna
Christensen, Credit Suisse AG,
anna.christensen@credit-suisse.com
Credit Suisse ETNs
Telephone +1 800 320 1225,
ETN.Desk@credit-suisse.com
The ETNs may not be suitable for all investors and should be
purchased only by knowledgeable investors who understand the
potential consequences of investing in the ETNs. The ETNs are
subject to the credit risk of Credit Suisse. You may receive less,
and possibly significantly less, than the principal amount of your
investment at maturity or upon repurchase or sale. Coupon payments
on the ETNs will vary and could be zero. There is no actual
portfolio of assets in which any investor in the ETNs has any
ownership or other interest. Investors in the ETNs do not have
voting rights, distribution rights or other rights with respect to
the assets included in the tracked indices. An investment in the
ETNs involves significant risks. For further information regarding
risks, please see the section entitled "Risk Factors" in the
applicable pricing supplement.
Credit Suisse
Credit Suisse is one of the world's
leading financial services providers. Our strategy builds on Credit
Suisse's core strengths: its position as a leading wealth manager,
its specialist investment banking capabilities and its strong
presence in our home market of Switzerland. We seek to follow a balanced
approach to wealth management, aiming to capitalize on both the
large pool of wealth within mature markets as well as the
significant growth in wealth in Asia
Pacific and other emerging markets, while also serving key
developed markets with an emphasis on Switzerland. Credit Suisse employs
approximately 49,090 people. The registered shares (CSGN) of Credit
Suisse Group AG, are listed in Switzerland and, in the form of American
Depositary Shares (CS), in New
York. Further information about Credit Suisse can be found
at www.credit-suisse.com.
Disclaimer
This document was produced by and the opinions expressed are those
of Credit Suisse as of the date of writing and are subject to
change. It has been prepared solely for information purposes and
for the use of the recipient. It does not constitute an offer or an
invitation by or on behalf of Credit Suisse to any person to buy or
sell any security. Any reference to past performance is not
necessarily a guide to the future. The information and analysis
contained in this publication have been compiled or arrived at from
sources believed to be reliable but Credit Suisse does not make any
representation as to their accuracy or completeness and does not
accept liability for any loss arising from the use hereof.
Credit Suisse has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission, or SEC,
for the offering to which this press release relates. Before you
invest, you should read the applicable Pricing Supplement, the
Prospectus Supplement dated June 18,
2020 and the Prospectus dated June
18, 2020 that Credit Suisse has filed with the SEC for
more complete information about Credit Suisse and this offering.
You may obtain these documents without cost by visiting EDGAR on
the SEC website at www.sec.gov or clicking the hyperlinks
below:
REML:
Pricing Supplement dated November 10,
2020, including the Prospectus Supplement dated June 18, 2020, and Prospectus dated June 18, 2020:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/REML
USOI:
Pricing Supplement dated May 17,
2021, including the Prospectus Supplement dated June 18, 2020, and Prospectus dated June 18, 2020:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/USOI
GLDI:
Pricing Supplement dated May 24,
2021, including the Prospectus Supplement dated June 18, 2020, and Prospectus dated June 18, 2020:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/GLDI
SLVO:
Pricing Supplement dated May 24,
2021, including the Prospectus Supplement dated June 18, 2020, and Prospectus dated June 18, 2020:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/SLVO
Alternatively, Credit Suisse, Credit Suisse Securities
(USA) LLC or any agent or any
dealer participating in this offering will arrange to send you the
applicable pricing supplement, prospectus supplement and prospectus
if you so request by calling 1-800-320-1225.
This document was produced by and the opinions expressed are
those of Credit Suisse as of the date of writing and are subject to
change.
X-Links® is a registered trademark of Credit Suisse
Securities (USA) LLC.
Copyright © 2021, CREDIT SUISSE GROUP AG and/or its affiliates.
All rights reserved.
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SOURCE Credit Suisse