Credit Suisse Announces Coupon Payments and -2-
Aug 04, 2016 08:30:00 (ET)
NEW YORK, Aug. 4, 2016 /PRNewswire/ --
-- On August 3, 2016, Credit Suisse declared coupon payments for the
following ETNs:
-- Credit Suisse X-Links Monthly Pay 2xLeveraged Mortgage REIT ETN
(NYSE Arca: REML)
-- Credit Suisse X-Links Monthly Pay 2xLeveraged Alerian MLP Index
ETN (NYSE Arca: AMJL)
-- Credit Suisse X-Links Multi-Asset High Income ETN (NYSE Arca:
MLTI)
-- On August 4, 2016, Credit Suisse announced expected coupon payments for
the following ETNs:
-- Credit Suisse X-Links Gold Shares Covered Call ETN (NASDAQ: GLDI)
-- Credit Suisse X-Links Silver Shares Covered Call ETN (NASDAQ:
SLVO)
-- Summary coupon information is provided below.
Declared Coupon Payments
Closing
Indicative
ETN Value Record Payment Coupon Coupon Current
Ticker ETN Name on 7/29/16 Ex-Date Date Date Amount Frequency Yield(1)
Credit
Suisse
X-Links
Monthly Pay
2xLeveraged
Mortgage
REML REIT ETN $26.4513 8/9/16 8/11/16 8/19/16 $0.0758 Monthly 3.44%(2)
Credit
Suisse
X-Links
Monthly Pay
2xLeveraged
Alerian MLP
AMJL Index ETN $27.7484 8/9/16 8/11/16 8/19/16 $0.4488 Monthly 6.61%(3)
Credit
Suisse
X-Links
Multi-Asset
High Income
MLTI ETN $27.9420 8/9/16 8/11/16 8/19/16 $0.1040 Monthly 6.39%(3)
Expected Coupon Payments
Closing
Indicative Expected Expected
ETN Value Record Payment Coupon Coupon Current
Ticker ETN Name on 7/29/16 Ex-Date Date Date Amount(4) Frequency Yield(5)
Credit
Suisse
X-Links
Gold
Shares
Covered
Call
GLDI ETN $10.7158 8/18/16 8/22/16 8/25/16 $0.1732 Monthly 17.42%
Credit
Suisse
X-Links
Silver
Shares
Covered
Call
SLVO ETN $10.6990 8/18/16 8/22/16 8/25/16 $0.2669 Monthly 21.49%
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 ETN launched on July 12, 2016. The Current Yield for the ETN equals
the Coupon Amount, multiplied by twelve (to annualize such amount),
divided by the Closing Indicative Value, and rounded to two decimal
places for ease of analysis.
3. 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.
4. On July 11, 2016, 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 August 2016
expiration. We expect that the notional cash distribution generated by
this sale of options will be withdrawn from the Indices on August 15,
2016, subject to adjustment in the event of any market disruption
events. Assuming no redemption or acceleration of GLDI and SLVO, and
that the notional cash distribution is withdrawn from the Indices on
August 15, 2016, we expect to declare a Coupon Amount for GLDI and SLVO,
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.
5. 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. For each ETN, the Expected Current Yield 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.
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.
