NEW YORK, Dec. 19, 2013 /PRNewswire/ -- On
December 16, 2013, the Credit Suisse
NASDAQ Gold FLOWS 103 Index and the Credit Suisse NASDAQ Silver
FLOWS 106 Index (the "Indices") concluded the notional sale of
options on GLD shares and SLV shares with January expiration. We
expect that the notional cash distribution generated by this sale
of options will be withdrawn from the Indices on January 13, 2014, subject to adjustment in the
event of any market disruption events.
(Logo: http://photos.prnewswire.com/prnh/20091204/CSLOGO)
Assuming no redemption or acceleration of the ETNs and that the
notional cash distribution is withdrawn from the Indices on
January 13, 2014, we expect to
declare a coupon of $0.1355 per ETN
on the GLDI ETNs and a coupon of $0.1397 per ETN on the SLVO ETNs for payment on
or around January 27, 2014, payable
to the holder of record on January 22,
2014. The expected coupon payment may be subject to change
upon the occurrence of a disruption event or other unforeseen
circumstances. The expected coupon payments represent an indicative
yield of approximately 11.40% per annum on the GLDI ETN and an
indicative yield of approximately 10.49% per annum on the SLVO ETN.
The "indicative yield" equals the expected coupon payment
annualized and divided by the closing indicative value of the
applicable ETN on December 16,
2013.
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 AG. You may receive
less, and possibly significantly less, than the principal amount of
your investment at maturity or upon repurchase or sale. The ETNs
are not linked to, and investors have no rights to any physical
commodity. Monthly coupon payments on the ETNs will vary and could
be zero. Variable monthly coupons are generated from selling
covered calls, which limits upside participation. There is no
actual portfolio of assets in which any investor in the ETNs has
any ownership or other interest. 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.
For more information on the Credit Suisse suite of ETN
offerings, please visit: www.credit-suisse.com/etn.
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'). As an integrated bank, Credit Suisse is able to offer
clients its expertise in the areas of private banking, investment
banking and asset management from a single source. Credit Suisse
provides specialist advisory services, comprehensive solutions and
innovative products to companies, institutional clients and high
net worth private clients worldwide, and also to retail clients in
Switzerland. Credit Suisse is
headquartered in Zurich and
operates in over 50 countries worldwide. The group employs
approximately 46,400 people. The registered shares (CSGN) of Credit
Suisse'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.
SOURCE Credit Suisse AG