Exhibit 99.1
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CREDIT
SUISSE |
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Eleven Madison Avenue
New York, NY 10010
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Telephone +1 212-325-2000
Fax +1 212-325-7924 |
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Media Release
March 6, 2023
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| Credit Suisse Announces Coupon Payments and Expected Coupon Payments on Credit Suisse X-Links® Exchange Traded Notes (the “ETNs”) |
On March 1, 2023, Credit Suisse announced expected coupon payments
for the following ETNs:
| ETN Ticker |
ETN Name |
Closing Indicative Value on 2/28/23 |
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 |
$80.5903 |
3/21/23 |
3/22/23 |
3/27/23 |
$2.8441 |
Monthly |
37.52%3 |
| GLDI |
Credit Suisse X-Links® Gold Shares Covered Call ETN |
$142.4408 |
3/21/23 |
3/22/23 |
3/27/23 |
$0.8906 |
Monthly |
12.30%3 |
| SLVO |
Credit Suisse X-Links® Silver Shares Covered Call ETN |
$76.8870 |
3/21/23 |
3/22/23 |
3/27/23 |
$0.7920 |
Monthly |
22.14%3 |
1. On February 13, 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
March 2023 expiration. We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices
on March 13, 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SLVO and USOI, and that the notional cash distribution is withdrawn from the Indices on March 13, 2023, we expect to declare a Coupon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.
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March 6, 2023
Page 2/3
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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 builds on its core strengths: its position as a leading wealth manager, its specialist investment banking and
asset management capabilities and its strong presence in its home market of Switzerland. 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:
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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.
Form 40-F 