NEW
YORK, Sept. 7, 2023 /PRNewswire/ --
On September 1, 2023, Credit
Suisse announced expected coupon payments for the following
ETNs:
|
ETN
Ticker
|
ETN
Name
|
Closing
Indicative
Value on
8/31/23
|
Ex-Date
|
Record
Date
|
Payment
Date
|
Expected
Coupon
Amount
per ETN1
|
Coupon
Frequency
|
Expected
Current
Yield2
|
|
USOI
|
Credit Suisse
X-Links® Crude
Oil Shares
Covered Call
ETN
|
$80.3156
|
9/19/23
|
9/20/23
|
9/25/23
|
$0.8151
|
Monthly
|
18.30%3
|
|
GLDI
|
Credit Suisse
X-Links® Gold
Shares
Covered Call
ETN
|
$140.3774
|
9/19/23
|
9/20/23
|
9/25/23
|
$0.3089
|
Monthly
|
7.02%3
|
|
SLVO
|
Credit Suisse
X-Links®
Silver
Shares
Covered Call
ETN
|
$76.2861
|
9/19/23
|
9/20/23
|
9/25/23
|
$0.3001
|
Monthly
|
17.25%3
|
|
1. On
August 14 ,2023, 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 September 2023 expiration. We expect that
the notional cash distribution generated by this sale of options
will be withdrawn from the Indices on September 11, 2023, subject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that the notional cash distribution is withdrawn from the Indices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 September 11, 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.
X-Links® is a registered trademark of Credit Suisse
Securities (USA) LLC.
Copyright © 2023, CREDIT SUISSE and/or its affiliates. All
rights reserved.
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SOURCE Credit Suisse AG
