SLVO UBS AG ETRACS Silver Shares Covered Call ETN

NEW YORK, Aug. 4, 2023 /PRNewswire/ -- On August 1, 2023, Credit Suisse announced expected coupon payments for the following ETNs:

1. On   July 17, 2023, the Credit Suisse Nasdaq Gold FLOWS™ 103 Index, the Credit Suisse Nasdaq Silver FLOWS™ 106 Index and the Credit Suisse Nasdaq WTI Crude Oil FLOWS™ 106 Index (the "Indices") concluded the notional sale of options on GLD shares, SLV shares and USO shares, respectively, with August 2023 expiration.  We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on August 14, 2023, subject to adjustment in the event of any market disruption events.  Assuming no redemption or acceleration of GLDI, SLVO and USOI, and that the notional cash distribution is withdrawn from the Indices on August 14, 2023, we expect to declare a Coupon Amount for GLDI, SLVO and USOI, respectively, equal to the corresponding Expected Coupon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.

2. 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.

3. 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
Andre Rosenblatt, Credit Suisse, andre.rosenblatt@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.

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 26, 2023 and the Prospectus dated June 26, 2023 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:

USOI:
Pricing Supplement dated August 3, 2023, including the Prospectus Supplement dated June 26, 2023, and Prospectus dated June 26, 2023:
https://www.sec.gov/Archives/edgar/data/1053092/000121390023062973/ea159325_424b2.htm

GLDI:
Pricing Supplement dated August 3, 2023, including the Prospectus Supplement dated June 26, 2023, and Prospectus dated June 26, 2023:
https://www.sec.gov/Archives/edgar/data/1053092/000121390023062969/ea159326_424b2.htm

SLVO:
Pricing Supplement dated August 3, 2023, including the Prospectus Supplement dated June 26, 2023, and Prospectus dated June 26, 2023: https://www.sec.gov/Archives/edgar/data/1053092/000121390023062971/ea159324_424b2.htm

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.

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SOURCE Credit Suisse AG