0000950103-20-006969.txt : 20200403 0000950103-20-006969.hdr.sgml : 20200403 20200403102342 ACCESSION NUMBER: 0000950103-20-006969 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20200403 FILED AS OF DATE: 20200403 DATE AS OF CHANGE: 20200403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CREDIT SUISSE AG CENTRAL INDEX KEY: 0001053092 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 000000000 STATE OF INCORPORATION: V8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33434 FILM NUMBER: 20772075 BUSINESS ADDRESS: STREET 1: PARADEPLATZ 8 CITY: ZURICH STATE: V8 ZIP: 8001 BUSINESS PHONE: 01141 44 333 1111 MAIL ADDRESS: STREET 1: P.O. BOX 1 CITY: ZURICH STATE: V8 ZIP: 8070 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT SUISSE / /FI DATE OF NAME CHANGE: 20050607 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT SUISSE FIRST BOSTON / /FI DATE OF NAME CHANGE: 19980115 6-K 1 dp125562_6k.htm FORM 6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934 

For the month of April, 2020

Commission File Number 001-33434

CREDIT SUISSE AG

 

(Translation of Registrant’s Name Into English)

Paradeplatz 8, CH-8001 Zurich, Switzerland

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or
Form 40-F.

   Form 20-F      Form 40-F    
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
 
 

Explanatory note

 

This report on Form 6-K contains the exhibit set forth below. This report on Form 6-K and such exhibit are hereby incorporated by reference into Registration Statement No. 333-218604-02 of Credit Suisse AG.

 

Exhibit 99.1: Press release of Credit Suisse AG dated April 3, 2020.

Exhibit 99.2: Press release of Credit Suisse AG dated April 3, 2020.

 

 
 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

         
  CREDIT SUISSE AG


 		  
Date: April 3, 2020 By:   /s/ Elaine Sam  
    Name:   Elaine Sam  
    Title:   Authorized Officer  
 
  By:   /s/ Praju Doshi  
    Name:   Praju Doshi  
    Title:   Authorized Officer  

 

 

 

 

 EX-99.1 2 dp125562_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

 

April 3, 2020

 

  Credit Suisse Announces Coupon Payments and Expected Coupon Payments on Credit Suisse X-Links® Exchange Traded Notes (the “ETNs”)
   
  On April 1, 2020, Credit Suisse declared coupon payments for the following ETNs:
   
   
ETN Ticker ETN Name Closing Indicative Value on  3/31/20 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 $2.3876 4/9/20 4/13/20 4/21/20 $0.1690 Monthly 55.05%2
MLTI Credit Suisse X-Links® Multi-Asset High Income ETN $19.0608 4/9/20 4/13/20 4/21/20 $0.2452 Monthly 7.24%2

 

On April 3, 2020, Credit Suisse announced expected coupon payments for the following ETNs:

 

ETN Ticker ETN Name Closing Indicative Value on  3/31/20 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 $8.0769 4/21/20 4/22/20 4/27/20 $1.1545 Monthly 79.76%5
GLDI Credit Suisse X-Links® Gold Shares Covered Call ETN $9.0565 4/21/20 4/22/20 4/27/20 $0.0871 Monthly 8.45%5
SLVO Credit Suisse X-Links® Silver Shares Covered Call ETN $5.4459 4/21/20 4/22/20 4/27/20 $0.0414 Monthly 9.50%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

 

 

Media Release

April 3, 2020

 

Page 2/3

 

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 March 16, 2020, 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 April 2020 expiration. We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on April 14, 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 April 14, 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

 

 

Media Release

April 3, 2020

 

Page 3/3

 

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

 

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.

 

 

 EX-99.2 3 dp125562_ex9902.htm EXHIBIT 99.2

Exhibit 99.2

 

CREDIT SUISSE

Eleven Madison Avenue

New York, NY 10010

 

Telephone +1 212-325-2000

Fax           +1 212-325-7924

 

 

Media Release

April 3, 2020

 

Credit Suisse Announces Coupon Amount on its Credit Suisse S&P MLP Index ETN (ticker symbol “MLPO”).

 

On April 1, 2020, Credit Suisse declared a Coupon Amount for the Credit Suisse S&P MLP Index ETN (the “ETN”).

 

ETN Ticker ETN Name Ex-Date

Record

Date

Coupon

Payment Date

 Coupon Amount per ETN Coupon Frequency Current Yield*†
MLPO Credit Suisse S&P MLP Index ETN 4/9/2020 4/13/2020 4/21/2020 $0.2428 Quarterly 17.88%

 

 

* The “Current Yield” equals the current quarterly Coupon Amount, annualized and divided by the Closing Indicative Value of the ETN on March 31, 2020.

 

† The Current Yield, which is based on the ETN’s Coupon Amount, is not indicative of future quarterly Coupon Amounts, if any, on the ETNs. The quarterly Coupon Amount (if any) is variable and dependent on the most recent distributions of the MLPs included in the index, and such amount does not represent a fixed periodic interest payment. There can be no assurance that the MLPs included in the index will make any distributions in any future period. Any payment on the ETN is subject to Credit Suisse’s ability to pay its obligations as they become due. For more information regarding the ETN's coupon payments, please refer to the ETN's pricing supplement. 

 

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. Investors will not have any partnership interests or other rights in the MLPs included in the index. Coupon Amounts on the ETNs will vary and could be zero. 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

 

 

Media Release

April 3, 2020

Page 2/2

 

 

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 hyperlink below:

 

Pricing Supplement dated June 30, 2017:

 

https://www.sec.gov/Archives/edgar/data/1053092/000089109217004787/e74706_424b2.htm

 

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.

 

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

 

 

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