NEW
YORK, May 3, 2023 /PRNewswire/ --
On May 1, 2023,
Credit Suisse announced expected coupon payments for the following
ETNs:
|
ETN Ticker
|
ETN Name
|
Closing
Indicative
Value on
4/28/23
|
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
|
$79.7890
|
5/19/23
|
5/22/23
|
5/25/23
|
$1.9479
|
Monthly
|
27.04%3
|
|
|
GLDI
|
Credit Suisse
X-Links® Gold
Shares
Covered Call
ETN
|
$146.4529
|
5/19/23
|
5/22/23
|
5/25/23
|
$1.9876
|
Monthly
|
12.23%3
|
|
|
SLVO
|
Credit Suisse
X-Links® Silver
Shares
Covered Call
ETN
|
$80.8783
|
5/19/23
|
5/22/23
|
5/25/23
|
$1.6156
|
Monthly
|
16.57%3
|
|
|
1. On April 17,
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 May 2023
expiration. We expect that the notional cash distribution
generated by this sale of options will be withdrawn from the
Indices on May 15, 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distribution is withdrawn from the Indices on May 15, 2023, we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.
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.
Copyright © 2023, CREDIT SUISSE GROUP AG and/or its affiliates.
All rights reserved.
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SOURCE Credit Suisse