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CREDIT SUISSE AG |
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Eleven Madison Avenue
New York, NY 10010
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Telephone +1 212-325-2000
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Media Release
June 8, 2021
Credit Suisse Announces Coupon Payments and Expected Coupon Payments
on Credit Suisse X-Links® Exchange Traded Notes (the “ETNs”)
| On June 7, 2021, Credit Suisse declared coupon payments for the following ETNs: |
| ETN Ticker |
ETN Name |
Closing Indicative Value on 5/28/21 |
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 |
$ 7.2516 |
6/10/21 |
6/11/21 |
6/21/21 |
$0.0313 |
Monthly |
15.40%2 |
On June 8, 2021, Credit Suisse announced expected coupon payments
for the following ETNs:
| ETN Ticker |
ETN Name |
Closing Indicative Value on 5/28/21 |
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 |
$ 4.9404 |
6/21/21 |
6/22/21 |
6/25/21 |
$0.0657 |
Monthly |
21.38%5 |
| GLDI |
Credit Suisse X-Links® Gold Shares Covered Call ETN |
$ 9.1416 |
6/21/21 |
6/22/21 |
6/25/21 |
$0.0591 |
Monthly |
12.12%5 |
| SLVO |
Credit Suisse X-Links® Silver Shares Covered Call ETN |
$ 6.4476 |
6/21/21 |
6/22/21 |
6/25/21 |
$0.1251 |
Monthly |
26.63%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, 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.
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Media Release
June 8, 2021
Page 2/3 |
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 May 17, 2021, 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 2021 expiration. We expect that the notional cash distribution generated by this sale of options
will be withdrawn from the Indices on June 14, 2021, 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 14,
2021, 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
Anna Christensen, Credit Suisse AG, anna.christensen@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. 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 49,090 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
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Media Release
June 8, 2021
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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:
REML:
Pricing Supplement dated November 10,
2020, including the Prospectus Supplement dated June 18, 2020, and Prospectus dated June 18, 2020:
https://notes.credit-suisse.com/api/DocFile/GetProspectus/REML
USOI:
Pricing Supplement dated May 17, 2021,
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 May 24, 2021,
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 May 24, 2021,
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 © 2021, CREDIT SUISSE
GROUP AG and/or its affiliates. All rights reserved.
Form 40-F 