NEW YORK,
May 15, 2014 /PRNewswire/
-- On May 12, 2014, 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 June
expiration. We expect that the notional cash distribution generated
by this sale of options will be withdrawn from the Indices on
June 16, 2014, subject to adjustment
in the event of any market disruption events.
Assuming no redemption or acceleration of the ETNs and
that the notional cash distribution is withdrawn from the Indices
on June 16, 2014, we expect to
declare a coupon of $0.0491 per ETN
on the GLDI ETNs and a coupon of $0.1327 per ETN on the SLVO ETNs for payment on
or around June 25, 2014, payable to
the holder of record on June 20,
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 4.21% per annum on the GLDI ETN and an
indicative yield of approximately 10.55% 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 May 12,
2014.
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 45,600 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.
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 March 23,
2012 and the prospectus dated March
23, 2012 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. Alternatively, Credit Suisse 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 1-800-221-1037.
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 © 2014, CREDIT SUISSE GROUP AG and/or its
affiliates. All rights reserved.
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SOURCE Credit Suisse AG