NEW
YORK, June 5, 2023 /PRNewswire/ -- On
June 1, 2023, Credit Suisse announced
expected coupon payments for the following ETNs:
ETN
Ticker
|
ETN
Name
|
Closing
Indicative
Value on
5/31/23
|
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
|
$70.7773
|
6/20/23
|
6/21/23
|
6/26/23
|
$0.8590
|
Monthly
|
28.97%3
|
GLDI
|
Credit Suisse
X-Links® Gold
Shares
Covered Call
ETN
|
$143.9311
|
6/20/23
|
6/21/23
|
6/26/23
|
$1.5898
|
Monthly
|
18.52%3
|
SLVO
|
Credit Suisse
X-Links® Silver
Shares
Covered Call
ETN
|
$75.3884
|
6/20/23
|
6/21/23
|
6/26/23
|
$0.7844
|
Monthly
|
25.43%3
|
1. On May 15, 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 June 2023 expiration. We
expect that the notional cash distribution generated by this
sale
of options will be withdrawn from the Indices on June 12, 2023,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that the notional cash distribution is withdrawn from the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 June 12, 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
Candice
Sun, Credit Suisse, candice.sun@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. The bank's strategy is built
on its leading Wealth Management and Swiss Bank franchises, with
strong Asset Management as well as Markets capabilities. Credit
Suisse seeks 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. The bank employs more than 50,000
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:
USOI:
Pricing Supplement dated February 13,
2023, 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 September 27,
2022, 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 September 27,
2022, 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.
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SOURCE Credit Suisse AG