EX-99.1 2 dp112512_ex9901.htm EXHIBIT 99.1

 

Exhibit 99.1

 

CREDIT SUISSE AG
 

Eleven Madison Avenue

New York, NY 10010

Telephone

+1 212-325-2000

Fax

+1 212-325-7924

     
     

 

 

Media Release

 

September 5, 2019

 

 
 

Credit Suisse Announces Coupon Payments and Expected Coupon Payments on Credit Suisse X-Links® Exchange Traded Notes (the “ETNs”)

 

 
 

On September 3, 2019, Credit Suisse declared coupon payments for the following ETNs:

 

 
ETN Ticker ETN Name Closing Indicative Value on  8/30/19 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 $20.4451 9/12/19 9/13/19 9/23/19 $0.0877 Monthly 22.23%2
AMJL Credit Suisse X-Links® Monthly Pay 2xLeveraged Alerian MLP Index  ETN $12.1889 9/12/19 9/13/19 9/23/19 $0.3422 Monthly 17.95%2
MLTI Credit Suisse X-Links® Multi-Asset High Income ETN $26.7135 9/12/19 9/13/19 9/23/19 $0.0879 Monthly 6.52%2
                     

 

On September 5, 2019, Credit Suisse announced expected coupon payments for the following ETNs:

 

ETN Ticker ETN Name Closing Indicative Value on  8/30/19 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 $19.7975 9/19/19 9/20/19 9/25/19 $0.1423 Monthly 14.59%5
GLDI Credit Suisse X-Links® Gold Shares Covered Call $9.2877 9/19/19 9/20/19 9/25/19 $0.1842 Monthly 13.57%5

 

 

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September 5, 2019

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  ETN              
SLVO Credit Suisse X-Links® Silver Shares Covered Call ETN $7.3793 9/19/19 9/20/19 9/25/19 $0.1357 Monthly 11.26%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 August 12, 2019, 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 September 2019 expiration. We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on September 16, 2019, 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 September 16, 2019, 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

 

 

 

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September 5, 2019

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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 46,360 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 June 6, 2019, 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 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/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 13, 2019, 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 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/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

 

 

 

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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 © 2019, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.