NEW YORK, March 6, 2020 /PRNewswire/ -- On March 4, 2020, Credit Suisse declared coupon
payments for the following ETNs:
|
ETN
Ticker
|
ETN
Name
|
Closing
Indicative
Value on
2/28/20
|
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
|
$21.4874
|
3/11/20
|
3/12/20
|
3/20/20
|
$0.0917
|
Monthly
|
21.74%2
|
|
AMJL
|
Credit Suisse
X-Links® Monthly Pay
2xLeveraged Alerian MLP Index ETN
|
$6.3665
|
3/11/20
|
3/12/20
|
3/20/20
|
$0.2186
|
Monthly
|
26.67%2
|
|
MLTI
|
Credit Suisse
X-Links® Multi-Asset
High Income ETN
|
$26.1258
|
3/11/20
|
3/12/20
|
3/20/20
|
$0.0759
|
Monthly
|
6.58%2
|
On March 6, 2020, Credit Suisse
announced expected coupon payments for the following ETNs:
|
ETN
Ticker
|
ETN
Name
|
Closing
Indicative
Value on
2/28/20
|
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
|
$15.9371
|
3/19/20
|
3/20/20
|
3/25/20
|
$0.3031
|
Monthly
|
13.88%5
|
|
GLDI
|
Credit Suisse
X-Links® Gold
Shares Covered Call ETN
|
$9.0981
|
3/19/20
|
3/20/20
|
3/25/20
|
$0.0471
|
Monthly
|
6.45%5
|
|
SLVO
|
Credit Suisse
X-Links® Silver
Shares Covered Call ETN
|
$6.4674
|
3/19/20
|
3/20/20
|
3/25/20
|
$0.0262
|
Monthly
|
8.28%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 is not indicative of future
coupon payments, if any, on the ETNs. 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 may vary
significantly from coupon period to coupon period and may be zero.
Any payment on the ETNs is subject to Credit Suisse's ability
to pay its obligations as they become due. Accordingly, the
Current Yield will change over time, and such change may be
significant. 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 February
18, 2020, 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 March 2020 expiration. We expect that the
notional cash distribution generated by this sale of options will
be withdrawn from the Indices on March 16, 2020, 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 March 16, 2020, 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 is
not indicative of future coupon payments, if any, on the ETNs.
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 may vary significantly
from coupon period to coupon period and may be zero. Any
payment on the ETNs is subject to Credit Suisse's ability to pay
its obligations as they become due. Accordingly, the Expected
Current Yield will change over time, and such change may be
significant. 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
Karina
Byrne, Credit Suisse AG, telephone +1 212 538 8361,
karina.byrne@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 AG
Credit Suisse AG is one of the
world's leading financial services providers and is part of the
Credit Suisse group of companies (referred to here as 'Credit
Suisse'). 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 47,860 people. The registered shares (CSGN) of Credit
Suisse AG's parent company, 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 30,
2017 and the Prospectus dated June
30, 2017 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 January 15,
2020, including the Prospectus Supplement dated June 30, 2017, and Prospectus dated June 30, 2017:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/REML
AMJL:
Pricing Supplement dated January 29,
2020, including the Prospectus Supplement dated June 30, 2017, and Prospectus dated June 30, 2017:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/AMJL
MLTI:
Pricing Supplement dated June 30,
2017, including the Prospectus Supplement dated June 30, 2017, and Prospectus dated June 30, 2017:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/MLTI
USOI:
Pricing Supplement dated February 7,
2020, including the Prospectus Supplement dated June 30, 2017, and Prospectus dated June 30, 2017:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/USOI
GLDI:
Pricing Supplement dated February 5,
2020, including the Prospectus Supplement dated June 30, 2017, and Prospectus dated June 30, 2017:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/GLDI
SLVO:
Pricing Supplement dated June 30,
2017, including the Prospectus Supplement dated June 30, 2017, and Prospectus dated June 30, 2017:
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 © 2020, CREDIT SUISSE GROUP AG and/or its affiliates.
All rights reserved.
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SOURCE Credit Suisse AG
