USOI UBS AG ETRACS Crude Oil Shares Covered Call ETN

NEW YORK, May 5, 2020 /PRNewswire/ -- On May 1, 2020, Credit Suisse declared coupon payments for the following ETNs:

On May 5, 2020, Credit Suisse announced expected coupon payments for the following ETNs:

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 April 14, 2020, the Credit Suisse Nasdaq Gold FLOWS^TM 103 Index, the Credit Suisse Nasdaq Silver FLOWS^TM 106 Index and the Credit Suisse Nasdaq WTI Crude Oil FLOWS^TM 106 Index (the "Indices") concluded the notional sale of options on GLD shares, SLV shares and USO shares, respectively, with May 2020 expiration.  We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on May 11, 2020, subject to adjustment in the event of any market disruption events.  Assuming no redemption or acceleration of GLDI, SLVO and USOI, and that the notional cash distribution is withdrawn from the Indices on May 11, 2020, we expect to declare a Coupon Amount for GLDI, SLVO and USOI, respectively, equal to the corresponding Expected Coupon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, 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
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 48,500 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 April 9, 2020, including the Prospectus Supplement dated June 30, 2017, and Prospectus dated June 30, 2017:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/REML

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 April 29, 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.

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Copyright © 2020, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.

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SOURCE Credit Suisse AG